Category Archives: report

Study: Payday loan users say they have no other options

How do consumers win, if the legislature gets rid of all the competition? Everyone wants banks to offer payday loans. Some do, but most stay away from it b/c of the stigma and they can’t charge what they need to. This Kentucky study is basically saying that people that use payday loans do NOT have […]

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Finally, an independant and reputable payday loan report.

This is an older post that’s been updated:“Instead of regulating prices charged on small, short-term loans, the authors argue that increasing competition will drive prices down” says Signe-Mary McKernan and Caroline Ratcliffe. This new report by the Urban Institute finds that if payday advances are eliminated they “could be replaced by alternatives that make families […]

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Everyone is blaming payday loans

“Payday loan customers who are approved on their first application are morelikely to file for bankruptcy than those whose initial applications are denied,according to a study out of Vanderbilt Law School.” This article title “Payday loans create bankruptcy danger” places an interesting spin on things. What it proves is that payday lenders will just not […]

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What is Predatory Lending

Predatory lending is a vague term. I think this is a very good assessment and opinion by J. R. Clark Ph.D., University of Tennessee Chattanooga. He thinks: “Predatory loans, on the other hand, are loans obtained by the lender through deception or fraud, and do not enhance the welfare of borrowers. It is a disservice […]

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An Econoist’s View of the Payday Loan Industry

“As we are becoming increasingly aware at both the national and the local level, credit markets cannot and will not work effectively and efficiently unless both lenders and borrowers, creditors and debtors, are permitted to experience the consequences of their credit decisions, for good or ill.” Tom Lehman, Ph.D., Associate Professor, Indiana Wesleyan University See […]

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Payday Lending Has An Image Problem

We attended the CFSA meeting in Las Vegas this past year. One of the initiatives was the ability to put together statistical reports that support the availability of payday loans. I found this article because I subsribed to the newsletter. Donald Rieck just put out an article, “Predatory Reporting? On Payday Lending“. It’s basically […]

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