Anniston Star editorial board member radio interview
July 18, 2008 | Alabama, NPR | Comments (0)Phillip Tutor, the Commentary Editor of the Anniston Star, was on Birmingham, Alabama’s NPR station today talking about the Star’s recent series on payday loans. You can listen here.
Notice at the end of the interview Tutor calls for still more regulation of payday lenders in Alabama. He wants the state to find a “middle ground” capped APR (similar to that in North Carolina) where lenders can still operate but vulnerable citizens are protected.
Tutor, like so many other critics, continues to ignore the fact that a rate cap already exists — a 17% interest cap for the loan term, which payday lenders respect and meet. Imposing further rate caps on two-week loans that are based on annual terms is not workable — these aren’t meant to be annual loans and the small businesses making them cannot operate under those constraints. Why can’t Tutor and others understand that?
Ohio Public Radio’s Bill Cohen reports on Tuesday’s rally
May 10, 2008 | NPR, Ohio, employees, industry, media coverage, positive media coverage, regulation, states | Comments (0)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 employee), Senators Bob Schuler and Joy Padgett as well as those who want to ban the industry, Cohen presents a balanced piece on the debate in Ohio. Thanks to Cohen for taking the time to attend the rally and speak to those most impacted by the proposed ban. Journalism as it should be.
Colorado Public Radio practices good journalism
April 2, 2008 | Colorado, NPR, industry, media coverage, positive media coverage, regulation, states | Comments (0)A job well done to KCFR Colorado Public Radio host Ryan Warner on his segment today, “Lawmakers take close look at payday loans.” Warner interviewed State Rep. Mark Ferrandino, sponsor of a bill that would force payday lenders to close in Colorado, and Ron Rockvan, a Colorado payday lender.
Mr. Warner actually took the time to research the industry and ask intelligent and thoughtful questions, giving both sides the opportunity to make their case.
Hats off to good journalism.
You can listen to the full 10-minute segment at http://kcfr.org/index.php?option=com_content&task=view&id=94&Itemid=234&target_pg=com_day. Scroll down to April 2nd.
NPR: Payday loans may benefit consumers
February 29, 2008 | NPR, North Carolina, customers, industry, media coverage, states | Comments (0)Kudos to North Carolina Public Radio journalist Janet Babin for this accurate, in-depth report on the payday lending industry in this piece from National Public Radio’s Marketplace program. The piece discusses new research that says payday loans can actually benefit consumers and that consumers in states without payday lending are driven to bounce checks or turn to other less desirable options.
The takeaway on this is simple – consumers benefit when there is competition in the marketplace.
