We don’t have enough information and we don’t know how high it is on Obama’s list of priorities. One thing we do know is that he likes the 36% number. Here is a linke to his entire plan. At the end of the day, he’s still a politician. President-elect Obama will also have a lot […]
Category Archives: national
Banks offering payday loans in Ohio
I’m a little shocked to learn that after the state of Ohio tries to put payday lenders out of business, they allow banks to offer payday loans above the 28% legal limit. Why didn’t this information come out before the election? You don’t fill a credit gap by putting an entire industry out of business.
Also posted in Ohio
Were the Ohio and Arizona payday campaigns too deceptive?
The question posed in this article: “Why do political consultants so often choose a deceptive argument when an honest one would do just as well?” Of course, hindsight is always 20/20, but there is something to be said about fanning the flames. You can’t say the campaign failed from a lack of effort. The PDL […]
Also posted in Arizona, Legislation, Ohio
EZCorp keeps rolling
Despite closing 154 stores prior to Hurrican Ike, EZCorp grey profits 44% to $16,031,000 for the quarter ending September 30, 2008. Included in the results for the quarter is the impact of a previously under utilized foreign tax credit for $3.1M. “In addition to completing these two acquisitions, we plan to open 30 to 35 […]
Also posted in mexico
Payday lenders lose in Ohio and Arizona
The people have spoken. I’m not surprised that something as polarized as payday lending could make it through the popular vote. Let’s face it, payday lending has a image problem. This group is constantly being attacked by consumer groups. The majority of people drew a line a payday lending. In Ohio, many lenders are closing […]
Payday loan firm move is rejected
This article in the STLToday.com is worth mentioning. It’s basically not letting a Check ‘n Go relocate to a new location. What’s remarkable is that people are discriminating against some business. I just don’t understand how this comment makes it into the article. I guess anyone can pass judgement these days: “It doesn’t belong in […]
Posted in national
Payday loans taking off in United Kingdom
Dollar Financial Corp. (nasdaq: DLLR) opened five more stores in London bringing the companies total to 250 stores in the United Kingdom. The United Kingdom makes up 25% of the companies revenue. Find th Forbes article here.
Posted in national
The true origins of the word “usury”
Usury was originally a biblical term. This makes it a very powerful word for many people. The Jews coined the word usury and it meant lending money at any rate of interest to another Jew was condemned, but you could lend money to outsiders. This term being associated the bible is influencing people that are […]
Also posted in Legislation
Mortgages, scape goats and the payday lender
People just believe what they want to believe. Having been part of the PDL industry for quite awhile, I’ll say that the payday loan product has absolutely nothing to do with the mortgage crisis. In the end, most of the people that consumer groups “look out for” don’t want to pay anyone back, if they […]
Also posted in Illinois
TV series about payday lending family
The rumors are true. From two of the writers/producers of the Sopranos comes “Easy Money”, a story about a mom and pop payday lending operation. It’s hard to say what this type of publicity will do for the industry. I think one of the biggest misconceptions of the PDL industry is that these companies are […]
Posted in national
