Payday Pundit

That’s the take on Professor Zinman’s Oregon payday lending study by our friends at Center for Consumer Freedom:

It doesn’t take an economist to understand that, for many, paying $15 for a two-week $100 loan is better than pawning a family television or bouncing checks. Sadly, Nanny State lawmakers and bureaucrat-knows-best activists have already eliminated that […]

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A new study by Dartmouth economist Jonathan Zinman says that Oregonians suffered after payday lenders left the state following passage of the 36% rate cap law.  From the news release:
Survey data on 400 payday loan users collected before and after the imposition of an interest-rate cap in Oregon suggest that the cap caused deterioration in […]

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Anti-payday lending zealot, Jeff Merkley, has won in Oregon.

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Anti-payday lending candidate Jeff Merkley is predicted to win his tight race with Gordon Smith in Oregon.  The remaing votes to count are in Democratic areas.  
After the news of the last few days, we can either get drunk, go back to sleep, or get more determined to fight for financial choice.   These suggestions aren’t mutually […]

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Smith holds a slim lead over Merkley in Oregon.

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Jeff Merkley, the anti-payday lending Senate candidate in Oregon, is in a virtual tie with incumbent Gordon Smith.

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The most anti-payday lending candidate in the country, Jeff Merkely, is neck and neck with incumbent Senator Gordon Smith.   From today’ story: 
Smith told volunteers he needs them to get the message out to GOP voters that it’s important to keep him in the Senate to help preserve a balanced government in the event that Democrat […]

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People are now saying “payday loans” in the same sentence as bank products, not in a flattering sense, but it’s still progress: 
It doesn’t take a semester course to discuss exorbitant credit-card fees, overdraft charges, compound interest and loan terms, including payday loans.

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One U.S. Senate candidate in Oregon wants to put payday lenders out of business and the other is a believer in free markets.  This is a tough one.  

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Jeff Merkley, the anti-payday lending zeolot in Oregon who’s now running for Senate, keeps riding the “predatory lending” horse. 
Let’s hope he loses.

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