Thanks Payday Pundit for the update on Missouri. Republican leaders block the bill from making it to the House floor. You can read the source article titled “Payday Loan Bill Rejected.”
Category Archives: Missouri
Missouri rumbling about 36%
State Rep. Mary Still, a Democratic, is trying to get payday loan legislation going again. She’s calling for 36%. Is there anything more annoying than the comparison between payday loan stores and McDonalds fast food restaurants. Who cares if there are more loan stores, anyway. So if McDonald’s opened 1,000 new locations, it’s all of […]
Posted in Missouri
From politics to PDL Industry
Rep. Brian Yates of Missouri is stepping down from office to take a position w/ payday lender QC Financial. This, in of itself, is not big news; but I think it’s showing that a cash advance is beginning to become mainstream. You can read the full article in St. Louis Today.
Posted in Missouri
Reps set hearing on payday loans in Missouri
I hope some payday lenders show up to this to voice their concerns about the legislation. They’re having a district legislative hearing to discuss payday loan reform at 6:30 p.m. Monday at the Columbia Public Library, 100 W. Broadway.
Posted in Missouri
The most ignorant comment of the day
In Missouri, Deputy General Counsel Mike Dandino said: “customers who most often used payday loan services were poor, elderly or living paycheck to paycheck. Many of the same customers either face threats of disconnection or have fallen behind on bills, making them easy targets for high-interest loans.”I find it hard to believe that a highly […]
Posted in Missouri
Missouri is number 2 in payday loan fees
Missouri made the news in an article titled, “Nursing home payday lenders scrutinized.” The article is about a two companies that own 62 nursing homes and offer their employees payday loans. The payday loans are then deducted from their paycheck. Personally, I don’t see what the big deal is, if they’re licensed. The big news […]
Posted in Missouri
Credit unions push into payday loan business
Credit unions are seeing oppourtunies to offer payday loans. I think this is great for the industry. Competition drives prices down and gets more people using the product and keeps legislators from blacking out a state. The reality is that payday lenders have a much different cost structure than credit unions and banks. Tom Linafelt, […]
Posted in Missouri
PDL industry growing, but more expensive
The industry is growing, but it’s becoming more expensive to operate. QC Holdings increases revenue, but defending payday loans cuts into earnings. QC is still growing and making money, but is the profit squeeze a trend or just a blip? The industry has become more proactive in the legislation and espcially in PR and public […]
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Legislators ignore payday loan bills
Fired Up Missouri is a popular political blog. They obviously don’t mind throwing darts at the GOP regarding the PDL industry. I guess they’re fans of free markets. Missouri have some of the best pro-lender laws in the nation.
Posted in Missouri
