Find congressional compromise
April 20, 2009 | Ohio, Rapid City Journal, South Dakota, federal legislation, industry, media coverage, personal finance, regulation | Comments (0)That’s the thrust of this Rapid City editorial
Payday loan operations fill a void. Until any person can walk into a traditional bank or credit union and borrow $100 until his or her next paycheck, payday loans will remain the only option for a lot of folks. We can support keeping the quick, short term cash option in place; but some protection against an exploding, long term debt problem should be part of the equation.
The industry, led by the Community Financial Services Association of America, has always compromised on real consumer protections. What it will not compromise on is its existence.
Rapid City Journal gets it right
April 10, 2009 | Rapid City Journal, South Dakota, best practices, customers | Comments (0)Rapid City Journal ran a nice, balanced article today. Props to them for helping to educate consumers that payday loans should be considered for emergencies while acknowledging the service these loans provide and the extent payday loans companies go to to help consumers.
Will critics attack this payday loan alternative?
April 21, 2008 | Rapid City Journal, South Dakota, alternatives, industry, media coverage, states | Comments (0)The Black Hills Credit Union is offering an “alternative” to payday loans. According to this article qualification for this ervice is ”not based on credit score, debt ratio or discretionary income.” Isn’t this a line of attack critics such as the Center for Responsible Lending level at payday lenders?
