Judy Poston
“So we’re seeing a lot of seniors going to the pay day lenders… going to payday lender number one, two and three trying to borrow enough every month to make their mortgage payment.”
Payday loan opponent Judy Poston is disturbed by the increasing number of senior citizens taking out multiple loans just to keep a roof over their heads…
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Kathye Gaines
“We’re seeing people on a regular basis that are caught in the cycle… In order to make this week’s bills, they are borrowing from next week’s money.”
Consumer Credit Counseling Service of Northeastern Iowa Inc.’s Mason City branch office manager Kathye Gaines said that people in over their heads with payday loans make up about 10 percent of her office’s monthly caseload…
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Michele Johnson
“The story is that they think it’s going to be the last resort. That the three or four hundred dollars is going to solve their problem and all it does is, it’s the final card on the house of cards before it tumbles.”
Consumer credit counselor Michele Johnson said that getting a payday loan is very easy but paying it back can be extremely hard….
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Hank Klein
“Recent actions taken by the ASBCA represent a step in the right direction in favor of Arkansas consumers… However, a regulation rate of 55 percent would still get an ‘F’ on any academic grading scale.”
Arkansans Against Abusive Payday Lending (AAAPL) president H. C. “Hank” Klein said that nearly half of all payday lenders in Arkansas are unlicensed and unregulated by the Arkansas State Board of Collection Agencies (ASBCA)…
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Jeannette Hartman
“A girlfriend mentioned a payday loan… There was a whole list of companies on the Internet. They approved you within minutes. You sent them your account information and they wired the money into your account… It was easy to try to get extra money for Christmas, for when I just wanted something… Then I paid the price when I had to pay them back.”
Online payday loan consumer Jeannette Hartman describes her ordeal to Charleston Daily Mail reporter George Hohmann…
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Brad Beal
“With payday loans, people get trapped. Every payday they’re broke. You can’t get out… We wanted to offer our members an opportunity to break the cycle.”
Nevada Federal Credit Union president Brad Beal wants to help members of his credit union break out of the cycle of debt by offering a payday loan alternative…
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Judy Wasylycia-Leis
“People who are most vulnerable — on the low end of the income scale — are often targeted by payday lenders. And this hasn’t been a high enough priority.”
Canadian MP Judy Wasylycia-Leis has lobbied for federal regulation of the payday loan industry for years but believes the issue has not been a high political priority because it affects people with a low income and exists in a legal gray area…
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Bill Kennedy
“I have never yet seen a military service member that said he was glad he borrowed from a payday lender…”
Navy-Marine Corps Relief Society director Bill Kennedy relates his experiences from working at the nonprofit organization that provides financial assistance to members of the US navy…
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George VanderBurg
“It’s all about consumer protection, and anywhere where there’s lack of controls, there’s people that are taken advantage of…”
Alberta minister of government services George VanderBurg believes the federal government should regulate the payday loan business in Canada…
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Michelle Singletary
“And to say that getting a payday loan is better than bouncing a check is like saying it is better to smoke one cigarette a day than two. Both are bad for you.”
Columnist Michelle Singletary, who believes the 36% cap on military loans should be extended to all consumers, does not agree with payday lender claims that taking out a payday loan is better than bouncing a check…
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