Payday Pundit

In an op-ed in today’s Des Moines Register, Tim Miller of the Center for Consumer Freedom, writes:
Eliminating a major short-term credit option for financially stressed adults is hardly an act of mercy. We should be helping Americans find more debt-management options - not taking them off the table.

[Read more →]

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.

[Read more →]

Tommy Moore, the Executive Vice President of the Community Financial Services Association of America, has a letter in today’s Christian Science Monitor echoing the favorable comments in this terrific guest column by Tim Miller of the Center for Consumer Freedom from a few days ago:
In response to Tim Miller’s recent Opinion piece on banning payday loans: […]

[Read more →]

The Center for Consumer Freedom’s opinion piece we blogged about yesterday was picked up by another newpaper today.   It makes a strong case against government paternalism, and we’re glad to see newspapers devoting some space to this argument.   
 

[Read more →]

Tim Miller of Center for Consumer Freedom has a very sensible opinion piece today in the Christian Science Monitor.  From the piece:
One consequence of payday lending restrictions is that they force would-be borrowers into alternatives that are far more costly. Georgia, for example, has outlawed the practice – mistakenly, as a Federal Reserve Bank of […]

[Read more →]

The Center for Consumer Freedom had this to say in response to an anti-payday lending editorial in a Missouris newspaper:
Borrowers are best served when they have more choices to pick from, not when politicians eliminate what is for many their only option.
The full letter is here. 

[Read more →]

According to a new poll by Center for Consumer Freedom, only 10% of Ohioans say they would make loans at the 36% or 28% rate cap proposed by Ohio legislators.      From the news release:
When asked how much they would charge a complete stranger who wanted to borrow $100 for two weeks, just nine percent of […]

[Read more →]

The Center for Consumer Freedom posted some more food for thought regarding the payday lending issue on their website.
At a time when so many Americans are facing unprecedented financial difficulties, it seems out of the question to take short-term loan options away from consumers—especially when many of them have few alternatives as it is. But […]

[Read more →]

A consumer group has weighed in on the Arkansas payday loan debate saying this:
With the apparent success of his intimidation tactics, McDaniel joins the list of meddling elitists who couldn’t care less about soaring food prices. And the 500-plus employees of payday loan companies in Arkansas will join 80,000 other Americans at the back of […]

[Read more →]

So says Tim Miller of Center for Consumer Freedom in today’s Baxter Bulletin out of Arkansas.  Money quote:
“Borrowers are best served when they have more choices to pick from, not when politicians eliminate what is for many their only option.”   
The Payday Pundit has been making this point over and over.  Payday loans are an option […]

[Read more →]