Payday Pundit

This latest editorial in the Plain Dealer oozes contempt for business, the Ohio State Senate, the lobbying process, and payday lending customers.   Ohioans are thought of by the rest of the country as being polite, common sense types.  The Plain Dealer editorial board members are obviously exceptions.  Their name calling, elitism, smugness, and vitriole is beyond […]

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A coalition of short-term credit lending businesses in Ohio have hired Former Soliciter General Theodore Olson to take a look at the constitutional implications of Ohio’s short-term lender law. This news release gives the details.
In the release, Mr. Olson said, “The legislation passed by Ohio’s House of Representatives seeks not just to regulate, but to destroy, an […]

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A new poll by Zogby International finds that 84% of Ohioans think that credit decisions should be left to the individual while only 17% think the government should be involved.  From the news release:
Only one respondent – or 0.2% of the sample – said they think the state lawmakers should concentrate most on dealing with […]

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This silly editorial tells legislators to ban payday lenders because a poll done by a Left-wing union says people have a “negative view” of payday lenders. 
Of course, trust in the media, according to public opinion polls, is at 36%.   The Payday Pundit awaits an editorial in the Plain Dealer calling for the Ohio Legislature to ban […]

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The jobs of more than 6,000 Ohioans are on the line as the Ohio House passed a bill imposing a 28% annual rate cap on loans, essentially a $1.08 fee per $100 loaned.   Here is the Cleveland Plain Dealer story.  The bill now goes to the Senate where half the Senators are in support of a 36% […]

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This Cleveland Plain Dealer story has the latest, but payday lending lobbyist Darryl Dever sums it up nicely:
“If 36 percent puts you out of business, what do you think 28 percent is going to do?” asked Dever.
It’s amazing that given the rough time Ohio is having economically legislators would consider a bill that costs the […]

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Thanks to Lawrence Meyers for sharing this back and forth between himself and Thomas Suddes of the Cleveland Plain Dealer.
As is typically the case, editorial writers and columnists like Mr. Suddes have never used a payday loan, never been in a store, never spoken with a customer or an employee…yet still seem to know everything […]

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…Or perhaps you are interested in a homemade bear costume complete with “musty scent.”
The Cleveland Plain Dealer has an interesting look at the pawnbroking business. 
People sometimes confuse pawnbroking and other short-term financial services with payday loans.  While they offer another option for people facing and unexpected and unbudgeted expense - pawnbroking and payday loans are […]

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Dylan McCament at the Mount Vernon News in Ohio has done something very few reporters even try; he wrote a straightforward article on payday lending giving equal weight to industry and critics and with no loaded negative tone.   
The Payday Pundit applauds Mr. McCament for practicing journalism the way it’s supposed to be practiced.  Unfortunately, this […]

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This Cleveland Plain Dealer editorial on payday lending is off the rails.   The Payday Pundit doesn’t know where to begin, but let’s try: 
The Plain Dealer says some legislators “display a lack of interest in what’s best for their consituents.”  It’s so condescending the Pundit almost expected them to say something about ”people clinging to guns and religion.”   It’s alway obnoxious when highly paid […]

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