Sensible editorializing
May 26, 2009 | alternatives, industry, regulation | Comments (0)From the Los Angeles Times discussing federal regulations related to credit:
The role of lawmakers and regulators is much more broad. They should demand disclosures that are full and easy to understand. They should prevent lenders from setting debt traps for customers or surprising them with fees for services delivered without consent. And they should prohibit business models that are indifferent to or profit from consumers’ inability to repay what they borrow. Beyond that, companies should be free to innovate and compete, and their customers should be expected to understand the risks.
When is an installment lender a payday lender?
May 26, 2009 | industry | Comments (0)When the media says so, I guess.
Comment of the Day
May 26, 2009 | Uncategorized | Comments (0)THE ANSWER IS SIMPLE.THIS WHOLE PIECE WOULD HAVE TAKEN ABOUT A MINUTE IF THEY COULDNT GET A LOAN.My car broke down,I didnt have the money to fix it,So I started walking,boy am I tired.I didnt have the money for rent,I got evicted,It sure is cold outside.
More truth to power
May 26, 2009 | Washington, industry, positive media coverage | Comments (0)From CFSA’s Tommy Moore in the Columbian newspaper:
The payday advance industry exists because we offer our customers a product that is more desirable than the alternatives.
You just can’t say it any better than that.
A moving story
May 26, 2009 | alternatives, industry, personal finance, regulation | Comments (0)Santa Monica’s last pawnbroker has found a new homes. From the story:
More than a month after loosening zoning restrictions to help a pawn shop find a new home, the City Council is now set to become the business’ new landlord.
The council tonight is expected to enter a lease agreement with Angelo’s Pawn Shop for a 2,300 square-foot space at 1334 Fifth St., which City Hall recently purchased as part of its Downtown parking improvement plan.
GMA hack job
May 26, 2009 | Consumer Federation of America, industry | Comments (3)Your blood will boil after viewing this story on Good Morning America. Notice the focus on company “revenue” not actual profits. No mention of millions of satisfied customers. It doesn’t get more biased or ugly. Please go to the comments section and let them know how you feel.
Very opinionated
May 26, 2009 | Uncategorized | Comments (0)PDLindustryblog has some new posts.
More praise for Washington bill
May 26, 2009 | Washington, industry, regulation | Comments (0)Another editorial calling it “balanced.” Upon examination, the Payday Pundit doesn’t like the eight loans per year limit in the bill. It’s arbitrary and it’s a government intrusion into consumers’ decision making.
Victims of political payback?
May 26, 2009 | Nevada, industry, regulation | Comments (0)Interesting story about Nevada’s payday lenders:
Matthew Callister, the attorney who most recently represented Handy Cash, says his clients, which include other payday lenders, are being scapegoated because of their vocal opposition to legislation limiting payday interest rates and fees that was passed during the 2007 state legislative session. Callister, who recently withdrew as the attorney for the bankrupt Handy Cash, said state Assembly Speaker Barbara Buckley is unfairly singling his clients out because they “spoke out” against a bill she had supported. Buckley, not coincidentally, is the executive director of the legal aid center.
Zealots will use any means to achieve their objective.
You’ll love this
May 25, 2009 | industry, industry critics | Comments (0)The PDL Opponents Hall of Shame website is up.
