Payday Pundit

Consumer Federation of America, Consumers Union and the National Consumer Law Center have given two more states failing grades for offering choices to consumers.  Illinois and Missouri received straight F’s for having a multitude of short term credit options available to consumers.

[Read more →]

Here’s a story from Mississippi about a new payday lending alternative.  The Payday Pundit thinks this is great.  The more choices consumers have when it comes to short-term financial products, the better!  However, because you’ve come up with an alternative doesn’t mean you should replace existing products.  Let the market work and let consumers choose […]

[Read more →]

Boston’s National Consumer Law Center and Washington’s Consumer Federation of America give the Bay State two F’s for giving their citizenry financial choices.  There is something very wrong with this picture.

[Read more →]

I don’t understand why the anti-payday lending groups can’t wrap their heads around this one. 
Allred said potential borrowers are told twice the interest rate that they will pay, even when it’s 521 percent.
Payday lenders are extremely clear about what taking out a loan will cost.  They have to be, in many states what they tell […]

[Read more →]

I was at the grocery store last night and took a spin down the bottled water aisle.  I counted over ten different brands of water. TEN! That was just for still water, not fizzy fancy mineral water or ultra pure distilled or raspberry flavored “performance” water…just plain old water that you can get for pennies out […]

[Read more →]

Ohio Chamber of Commerce Backs  
Ohioans For Financial Freedom
To Keep Jobs and Consumer Choice
COLUMBUS, OH – The Board of Directors of the Ohio Chamber of Commerce has given its support to Ohioans For Financial Freedom saying imposing overbroad government regulations is not the way to revitalize Ohio’s economy.
“The Ohio Chamber champions free enterprise and […]

[Read more →]

CFSA Press Release:
Consumers Denied Choice, Jobs Threatened as Ohio Senate Votes to Ban Payday Lending
Legislators Play Politics, Ignore Tens of Thousands of Ohioans 
Washington, D.C. – Ignoring the pleas of tens of thousands of customers and employees, Ohio Legislators chose instead to vote today to ban payday lending in Ohio, said the Community […]

[Read more →]

While they are in no way a fan payday lending, the editorial writers ”do not favor a ban on the operations.” They write:
For some people in need of quick cash this may be their only option, especially if they have bad credit. Should they be denied the ability to make this choice? No, people ought to have […]

[Read more →]

Matthew Glans of the Heartland Institute had this to say in the Akron Beacon Journal about Ohio legislation:
The Ohio legislature, like many governing bodies across the country, apparently believes it is a better economic steward than the market. Legislators are considering new laws that would limit the ability of consumers to choose what lending services […]

[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 →]