Payday Pundit

From today’s Columbus Dispatch: 
 ”Our economy cannot afford to give up jobs like this industry provides when there was ample room to compromise to keep the industry going,” said Daniel Navin, the chamber’s{Chamber of Commerce} assistant vice president of tax and economic policy.
  “This bill, in my estimation, neither does anything positive for the consumer and certainly, […]

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With  songs such as “Freedom” and “Save our Jobs” chants in the background, reporter Bill Cohen reports on the “massive rally” earlier this week with the “folks who own and work at the stores who came from across Ohio.”
With soundbites from D. Lynn DeVault (CFSA president), Jamie Frauenberg (Checksmart Sr VP), Karen Findlay (Advance America […]

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The Bloggers Network conducted this online interview with the head of the Ohio Association of Financial Service Centers, Jamie Frauenberg.  Jamie, who is also a Sr. VP at CheckSmart, has been on the front lines these past weeks in the “battle of Ohio.”   From the interview:
If the Payday Loan industry disappears, where will people with no […]

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Hour 2 features a lively intervew with Ohio’s Speaker of the House John Husted, a republican in support of banning payday lending.  Bob Franz has done his research, understands the industry and the product and does a great job asking the tough questions.  Husted admits that the 28% APR cap will close the industry down.  Quoting Franz, […]

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In this Cincinnati Enquirer story, James Frauenberg of CheckSmart puts it in perspective:
“The profit margins in this industry are already thin,” said James Frauenberg, senior vice president of Dublin-based CheckSmart, during a meeting with the Enquirer’s editorial board. “I don’t see our landlords charging us less rent, the electric company charging us less for the […]

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Jamie Frauenberg, President of the Ohio Association of Financial Service Centers, minced no words this weekend in an opinion piece which appeared in the Columbus Dispatch.   This sort of clear thinking brings up precisely the points which critics can never seem to answer.
First, the loan is made for a two-week period, not 52 weeks. Why not […]

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