Payday Pundit

Must be a Southern thing.  From the story in the Memphis Daily News:
Lobbyists representing check-cashing businesses, payday lenders and auto title loan shops are meeting with Memphis and Shelby County lawmakers to voice their concerns over a proposed zoning ordinance designed to curb their growth.
The Payday Pundit sees no grousing, just normal lobbying activities.

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That’s the thrust of this editorial in the Memphis Commercial Appeal regarding a proposed city ordinance: 
The truth be told, a proposed ordinance that would place new restrictions on payday loan and title loan businesses in Shelby County probably wouldn’t be very effective.
The Memphis City Council and Shelby County Commission should go ahead and pass it, […]

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Payday lenders under scrutiny in the home of the blues. 

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Here’s one in Tennessee that is particularly annoying.

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That’s what this reporter calls payday loans in a story about a Memphis councilman seeking restrictions:
A freshman member of the Memphis City Council is pushing for new zoning regulations intended to curb the growth of the fringe financial industry in the city and county.
Businesses such as payday lenders and auto title loan shops will be […]

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On a refreshing note:
The FCC shouldn’t regulate mobile telephone contract cancellation fees any more than the Department of Commerce should regulate fees related to payday lenders or the Department of Transportation should regulate fees related to title loan companies….
Adding another regulation that will have to be overseen by somebody will only drive up costs (to […]

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Bank fees are on the rise and don’t expect them to go down anytime soon according to the Chattanooga Times Free Press.
The Federal Reserve Bank’s recent interest rate cuts may have provided some relief for consumers, but banks have been left looking for other streams of revenue to compensate.
For many banks, that additional revenue comes […]

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This story highlights the activities of a government-paid busybody–the community affairs specialist at the Federal Reserve Bank of St. Louis,– who thinks it’s her job to put payday lenders out of business.  She says she’s just advocating for “cheaper alternatives” but this “advocacy” seems to cross the line.   So the industry is now paying taxes […]

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