In this MSNBC article, one reporter suggests three options other than taking out a bank “payday loan” or a payday loan from a lender like one of our member companies.
17 percent of respondents (in a survey conducted by The National Foundation for Credit Counseling) indicated they would borrow the money from friends or family. Asking those close to you for a loan can be awkward, and potentially negatively impact the relationship. Further, it can lead to “serial borrowing,” with the borrower always leaning on someone else to solve his or her financial problems.
So, while it is an option…not everyone is going to ask a friend or a family member, much less their employer.
More of a robust look at the survey:
If you needed $1,000 for an unplanned expense, where would you turn to find the money?
Many have been wondering who Richard Cordray is? While unknown to the everyday consumer, much of Wall Street and the mortgage industry has been familiar with his name for quite some time.
MSNBC’s Red Tape offers a more in-depth perspective on the nominee President Obama has picked to run the CFPB.
“He is as authentic as you can get. He’s the same person when the cameras are on or when he’s with his family,” said Kimberly Kowalski, a former press aide for Cordray. “Sometimes it works to his detriment. He would just say what was in his heart, even if I’d prepared remarks for him … but Rich is all for that man on the street. If he meets someone and they tell him a problem, he remembers it, and he acts on it, and three months later, he’ll check to make sure it got fixed. Things never fall off his radar.”
MSNBC host Cenk Uygur speaks with Adam Green of the PCCC about their efforts to push President Obama to do a recess appointment of Elizabeth Warren to the CFPB.
