Not sure what to make of this editorial out of Kentucky:

At the industry’s request, the Senate State and Local Government Committee last week approved a 10-year moratorium on new payday loan outlets opening in Kentucky.

The effect would be to protect the companies that are already here from new competition and preserve their market shares.

It does nothing for consumers, who turn to the short-term lenders when they need cash to, for example, keep the lights and heat on or avoid a bounced-check fee.

Yes, everyone is discounting these days.   See the latest at Walletpop.

The Payday Pundit obviously has great sympathy for consumers who need short-term credit.  I’m particularly moved by a guy in this story who is pawning his grandmother’s jewelry, family heirlooms.   But how does someone have a $4,000 Rolex but no money in the bank?   Doesn’t make sense.

That’s the title of this great oped in the Springfield, Il. magazine: 

As a regional manager for an installment loan company, AmeriCash Loans, it has been satisfying to be able to provide individuals with installment loans as a means of survival when hardship strikes. All of our customers have jobs and checking accounts, but when emergencies come up, many need help right away so they turn to us because we do listen and provide options where none exist.