Demographics of Personal Money Store’s Payday Loan Customers
Put the Conspiracy Theories to Rest
If you don’t already know that American news media is first and foremost an entertainment medium, allow me to be the one to break it to you. Sensationalism sells better than the truth. Biased story selection and reporting slant are inescapable, particularly when you consider [...]
New Federal Reserve Payday Loan Study Chastens Critics
Payday loan study brings the facts
Gregory Elliehausen of the Board of Governors of the Federal Reserve system recently produced a telling payday loan report entitled “An Analysis of Consumers’ Use of Payday Loans.” This report gives us a glimpse into the demographic characteristics of payday loan customers and shows us [...]
Payday Loan Customers: Like Looking in a Mirror
Stories of Sensationalism
It is distressingly common for the media to paint a story of sensationalism when it comes to payday loan companies. Accuracy is the first casualty in their efforts at fear-mongering, and what incentive do they have to present information in a clear-headed fashion? Tales of a dark, trenchcoated [...]
Payday Loans Study Counters Unstudied Media Bias
In the media’s campaign to educate the public about the supposedly hazardous consequences of relying upon payday loans, truth is the first casualty in the information war.
Yet simple, fact-based (rather than anecdotal) evidence tends to cut to the heart of the matter. Recent studies by Answers, etc., a company that [...]
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