Payday Loans and the Hypocrisy of Their Competitors
In Texas, as in many locales, credit unions are aggressively developing products to compete with payday loans; the majority of which are offered under the CSO Model ( Credit Services Organization ). In a nutshell, under the CSO Model, a payday loan company simply fills out a one page form required to register as a CSO along with a bond and they’re in business. (There are a few other details…like forming two entities “at an arms-length-relationship” to (1)act as a “CSO and (2) a “Lender.”)
Payday Loans & Freedom of Choice
There are a lot of great posts regarding payday loans, Ohio, big brother issues and more over at
http://caveatemptorblog.com .
Here’s an example and we recommend you head over there for more pros and cons on payday loans and big brother…
Casey had an interesting insight:
“Payday loans are faulty product deserving of some common sense regulation.” [...]
Arizona Payday Loan Legislation
Arizona Proposition 200 was written by “Arizonans for Financial Reform” to ensure arizona consumers have access to multiple financial products.
Additionally, Arizona Proposition 200 will protect thousands of Arizona jobs and provide relief for commercial real estate owners who envision a very difficult 2009.
The last thing any state needs in these difficult times is [...]
Clinton Steps on His D$%^^& Again
So ex-president Bill Clinton, “also called on more governors to follow the lead of California Gov. Arnold Schwarzenegger (R) and former Arkansas Gov. Mike Huckabee (R) and reduce childhood obesity by bringing healthier lunches and more exercise to schools. He also urged states to go after pay-day lending operations, whose short-term, high-interest loans hit the poor [...]
Ohio Payday Loan Laws Update
Ohio payday loan regulators seem to think they know what is best for all of us!
