Payday Pundit

That’s from Tim Miller at the Center for Consumer Freedom in a piece in California’s Press Enterprise newspaper.  Also from the piece:
The rhetoric in favor of banning payday lending doesn’t seem to acknowledge the research vindicating the service, any more than it acknowledges the ability of adults to make debt-management decisions for themselves.

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Leykis discusses (and opposes) attempts in California to further regulate payday lenders. While the Payday Pundit disagrees with Leykis’ characteraztion of payday lending customers, he does have an interesting perspective. You can listen to the full program at: http://transsurvivalist.blogspot.com/2008/04/tom-leykis-defends-payday-loan.html

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Legislators in California have debated the issue of payday lending and are in agreement that consumers need reasonable protections, but to prohibit payday lending wouldn’t help anyone.
I think that there is need for increased consumer protection. And I’d like to see, but I’m not interested in seeing a prohibition,” said Assemblywoman Liz Wolfe.
To see poor journalism at […]

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This Sacramento Bee story details Monday’s action in the California Assembly’s Banking and Finance Committee.    

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Terry Kibbe of the Consumers Rights League weighs in.    From her piece in today’s Los Angeles Times:
“The Center for Responsible Lending and other so-called consumer advocacy groups rely on shoddy research in stirring gender, racial and class sensitivities to make the case against payday loans, as they did during their successful crusades in Georgia and North Carolina […]

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Economist Christopher Thornberg has provocative column on payday lending in the Los Angeles Times.  Great quote from the piece:
Despite high fees, people continue to use payday lenders with some frequency. Fool me once, shame on you; fool me eight or nine times, and clearly something else is up. It might be easy to accuse the firms of […]

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Obviously inspired by today’s Reuters story on payday lending, Luke Ford, a blogger out of Los Angeles, wrote this today:   

Memo To Mainstream Media

“If you want to constantly attack payday loans, then abandon any pretense to journalistic objectivity. The articles recently published about this matter, all of them vilifying the practice of payday lending, fail even […]

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