Where have they been?
November 29, 2009 | alternatives, industry | Comments (0)This paper says the “next battleground” will be about overdraft protection.
Panic
November 28, 2009 | federal legislation, industry | Comments (0)Big Government types are worried about the prospects for the Consumer Financial Protection Agency. They’re even attacking the Washington Post for reporting that the agency isn’t a done deal. From the American Prospect:
The real problem, though, is the Senate, where no one has stepped forward to champion the CFPA — Dodd is supporting it, but there is no one else on the Banking committee giving it full-throated backing. That’s a real shame. The CFPA is critical to good regulatory reform — there is no sense in fixing the banks if they can still screw over their customers — and critical to good regulatory reform politics because it provides tangible benefits to everybody.
Interesting comparison
November 28, 2009 | Oregon, industry | Comments (0)A guest column in an Oregon paper says this: Overdraft protection programs are analogous to involuntary payday lending.
Nothing better to do
November 28, 2009 | industry, local issues | Comments (0)The Des Moines, Iowa city council is up to no good. From the story:
“Clearly they pop up because there’s a need,” Hensley said. “But I don’t want to see one go into every single vacant storefront.”
Why don’t we let the building owners decide who to rent to?
Standing up for small business
November 24, 2009 | federal legislation, industry | Comments (0)The Chamber of Commerce’s “StoptheCFPA” website is a must read for citizens opposed to this agency.
Banks bouncing back
November 24, 2009 | alternatives, industry | Comments (0)But still not lending money.
Banks defend overdraft
November 24, 2009 | alternatives, federal legislation, industry | Comments (0)Good letter today in the New York Times:
While the best solution is for consumers to ensure that they have sufficient money in their account to avoid fees altogether, there are times that customers want the bank to cover their mortgage payment, car loan payment, buying groceries and paying cab and subway fares even if they do not have the money in the account that day.
The $400 pizza
November 24, 2009 | alternatives, federal legislation, industry | Comments (0)The Payday Pundit once paid about $30 for a pizza in Tokyo, but that was the actual price. The woman featured in Frontline’s “The Card Game” whipped out a debit card to pay for a $7 pizza. You know the rest.
CNN & the CFPA
November 23, 2009 | federal legislation, industry | Comments (0)I just watched a story on CNN about the proposed Consumer Financial Protection Agency that made it seem as if the agency was all about mortgages. If only it were.
Light blogging
November 23, 2009 | Uncategorized | Comments (0)They Payday Pundit is going into Thanksgiving Holiday mode.
