Wisconsin’s Supreme Court will be hearing a case on whether or not state law permits judges to determine when payday loan interest rates are too high, according to GazetteXtra.com.

As a reminder on CFSA Best Practices:

• CFSA members always provide the most transparent application forms and fee descriptions. We strongly support applying these to all other short-term lenders, both bank and nonbank.

• Members are required to disclose the cost of the service fee in both dollar amount and as an APR on loan documents and informational brochures. In addition, members must post fees in large type on posters in all store locations to ensure that customers know, in simple terms, exactly what the fees are before, not after, they enter into a transaction.

Speaking to Wisconsin senior citizens.

View it online.

An op-ed in Janesville, WI paper want tougher restrictions on payday lending.

Missourians travel to Ohio to protest JP Morgn.  Story gratiously mentions payday lending. 

Dallas Morning News weighs in on pending payday lending legislation.

Payday lending mentioned in Denver Mayor’s race article.

But Wisconsin newspapers won’t stop kicking it around. The Oshkosh Northwestern won’t be happy until the entire payday lending industry is out of business.

The payday loan bill that passed last session provided weaker protections than were necessary in Wisconsin …

In response to the post below titled “confused”:

This is a false statement! The rules that were enacted have been implemented since Jan 1. Where the problem comes into play is that lawmakers are still deciding on whether to change what they approved or not! The rules that were approved and we are operating under may not be the same rules that we are forced to abide by after they finally have a meeting to approved what the Governor signed. At this point, most of the lenders are dual licensed with a loan license and a PDL license to ensure that they can stay in business. This allowed the state to double their fee revenue from our industry.

New rules in Wisconsin are being interpreted by lawmakers.

A new state law that restricts payday loans took effect January 1st – but it’s still not fully implemented, because officials cannot agree which lenders are affected.

The silliest comparison of payday lending is provided today by the Wausau Daily Herald in Wisconsin:

The payday loan industry’s best argument on its own behalf, as far as we’ve been able to tell, is that some bank fees such as bounced-check charges can be even more outrageous than payday lending costs. That might be true as far as it goes, but it’s sort of like saying that we shouldn’t regulate the sale of crystal meth because smoking crack also is a danger.

Uh, no. Payday lenders offer a less expensive, legal service that is nothing like illegal narcotics.

Funny (at least to me) letter to the editor regarding the use of the generic term “cash store” as Cash Store is a branded name.

I’m a little surprised that it’s only January 4th and we’re getting editorials like this in Wisconsin: