Uncategorized

Barney Fife would’ve known what to do about payday lending

Raleigh’s News & Observer gets it on the money this morning in an excellent editorial about Regions Bank’s attempt to reintroduce predatory payday lending in North Carolina.  

“We do not want North Carolina consumers subjected to payday loans,” [Attorney General Roy] Cooper said. “Payday loans are like a consumer needing a life preserver being thrown an anvil.” But it may be easier to complain about the bank than to do something about it.

Cooper defines what Regions is offering as a payday loan; the company characterizes it as money “intended to be used occasionally for emergencies.” For his part, Cooper wants to stop it, but the out-of-state charter held by Regions – and the fact that this is an online offering – complicate the attorney general’s position from a legal standpoint. Still, he should keep working on the issue with an aim to, borrowing from legendary lawman Barney Fife, “nip it … nip it in the bud.”

Check Also

The best op-ed of the weekend

In case you missed it, be sure to ...

Top Stories from NCPW

  • News
  • Commentary

Frenches Creek Finishing lies in the watery lowlands of Bladen County, near Lion Swamp, Conkill and [...]

Historical commission member weighs in on monuments, free speech Valerie Johnson is the Mott Disting [...]

The Gardner farm in Wade, population 567, in Cumberland County has been in the family for more than [...]

North Carolina’s former public school superintendent June Atkinson says the state’s new K-12 leader [...]

The solid citizens of Johnston County, N.C. – in a fateful quirk of geography – for several years ha [...]

Why North Carolina’s coal ash and mental health crises have a lot in common Two of the biggest stori [...]

The post Tax Cuts & Jobs Act for the 1% appeared first on NC Policy Watch. [...]

Tax “reform” is on the front burner in Washington this holiday season and, as many knowledgeable obs [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more