Payday Pundit » Parma http://paydaypundit.org News and Information About The Payday Lending Industry Mon, 21 Jun 2010 17:49:39 +0000 http://wordpress.org/?v=2.9 en hourly 1 2nd Ohio city council limits payday lending http://paydaypundit.org/2008/04/29/2nd-ohio-city-council-limits-payday-lending/ http://paydaypundit.org/2008/04/29/2nd-ohio-city-council-limits-payday-lending/#comments Tue, 29 Apr 2008 12:56:41 +0000 Payday Pundit http://paydaypundit.org/?p=193 The city of Parma, Ohio has moved to restrict the opening of new payday lending stores according to this article.    Here’s the meat of the piece:

       The law allows one store for each 10,000 residents. There are seven stores now in the city. With an 80,000-plus population, one more lender could open.

It’s astonishing to the Payday Pundit that city councils believe they have the expertise to know exactly how many payday loan stores a city should have.   And wouldn’t more stores, not less, drive competition and keep costs low? 

]]> http://paydaypundit.org/2008/04/29/2nd-ohio-city-council-limits-payday-lending/feed/ 0 More nonsense out of Ohio http://paydaypundit.org/2008/04/23/more-nonsense-our-of-ohio/ http://paydaypundit.org/2008/04/23/more-nonsense-our-of-ohio/#comments Wed, 23 Apr 2008 14:05:57 +0000 Payday Pundit http://paydaypundit.org/?p=159 The Parma city council put restrictions on the number of “check cashing” stores in the city.   Currently, there are seven check cashing and payday lending stores in Parma.  The limit now is nine.

The Payday Pundit has a simple point to make:  It’s a $300 loan!

That’s right, the average payday loan is $300.   To paraphrase Churchill, never in the course of human history has so many made so much fuss over so little.    

 

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