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January 26, 2018
Title: Do Payday Advances Hurt the Working Poor?
Topic: Payday Loans
Discussed by Daniel Press
with Competitive Enterprise Institute www.cei.org
Part 1 of 2
Many Americans live paycheck to paycheck. When their car needs repairs, or their child is sick in the hospital and they cannot work, they often fall behind on their bills. Sometimes a payday
advance seems like the only option available. But, are they worth the price?
Daniel Press is a Policy Analyst at the Competitive Enterprise Institute, where he focuses on financial regulation, international development, and trade.
Questions/Issues Discussed:
What is a payday advance?
How many Americans per year take advantage of payday advances?
How many states have payday advance stores?
FACT: There are 20,000 payday advance stores in America. This is more than the number of McDonald’s and Starbucks stores combined.
Are there some advantages to payday advances?
Why is the Consumer Financial Protection Bureau focusing on eliminating payday
advances? NOTE: The head of this Bureau is Elizabeth Warren, if that gives you an idea…
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Title: Part 2 of 2 - Do Payday Advances Hurt the Working Poor?
Topic: Payday Loans
Discussed by Daniel Press
with Competitive Enterprise Institute www.cei.org
Questions/Issues Discussed:
How many Americans live paycheck to paycheck?
Why does Elizabeth Warren disapprove of payday advances?
Are payday advances really as bad as Elizabeth and others say they are?
Who suggested that the United States Post Office be responsible for payday
advances?
Should the government place restrictions on payday advances?
At one time, banks offered payday advances. Why did they stop and should they start offering this service again?
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October 17, 2016
Title: What are Payday Loans?
Topic: Payday Loans
Discussed by Hilary Miller
with Competitive Enterprise Institute www.cei.org
Part 1 of 2
It is estimated that approximately 12 Million Americans have taken a payday loan in the last year, ranging from $100 to $500 with the average being $375. New guest Hilary Miller is an attorney and statistician with the
Competitive Enterprise Institute. Hilary is also the Chairman of the Consumer Credit Research Foundation. Today he will be discussing the rising trend in payday loans.
Questions/Issues Discussed:
What are payday loans?
Are payday loans heavily regulated by the Federal Government? In addition, are the collection practices of companies which give payday loans highly scrutinized?
What type of person usually seeks a payday loan?
Why does someone seek a payday loan?
What do most people do when “life happens” and they do not have enough money for an emergency?
Who will suffer the most if the Federal Government places more restrictions on payday loans?
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Title: Part 2 of 2 - What are Payday Loans?
Topic: Payday Loans
Discussed by Hilary Miller
with Competitive Enterprise Institute www.cei.org
Questions/Issues
Discussed:
Is it a good idea for the Federal Government to allow the Post Office the
authority to issue payday loans? Maybe the Post Office should apply for a loan
for themselves!
Do Payday Loans serve a purpose in our society today in America?
How can payday loans be improved in America?
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