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Gary Rivlin

Entries by Gary Rivlin

Payday Lenders Exit Arizona -- In Theory at Least

(18) Comments | Posted June 29, 2010 | 11:01 PM

Today -- June 30th -- is the day that the payday lenders are supposed to close up shop in Arizona. But rather than celebrate, consumer advocates are braced for what might be coming next. They've seen what's happened in North Carolina, they see what's going on in Ohio.


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Naming Names: Every Bank and Business That Is a Subprime Lender

(54) Comments | Posted June 13, 2010 | 5:18 PM

Wells Fargo, JPMorgan Chase, and Bank of America. Goldman Sachs, Morgan Stanley, and American Express. H&R Block, General Motors, Ford Motor, General Electric, Walmart.

How many of the country's largest, best-known banks and corporations took huge, deep gulps at the well of the poverty industry?

Well, how much time...

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Portrait of a Subprime Lender: Allan Jones, Payday King

(56) Comments | Posted June 6, 2010 | 1:21 PM

It was at the end of a long day, the first of two we would spend together, that Allan Jones, the pioneer of the $40-billion-a-year payday industry, shared with me his views on race.

His town, Jones told me, has just enough blacks to put together a decent basketball...

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Yes, the Payday Lenders and Other Fringe Financers Are to Blame.

(40) Comments | Posted May 24, 2010 | 11:59 PM

You'll hear it a lot in the coming days in the continuing debate over financial reform.

All those fringe financiers who think their industries should be exempted from a newly proposed consumer financial protection agency: they'll remind us that it was the subprime mortgage lenders, Wall Street, and the...

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The Payday Industry's Powerful Friend

(0) Comments | Posted May 19, 2010 | 10:33 PM

This past fall, Lynn DeVault, the head of the trade association representing the country's payday lenders, spoke frankly about what her group was doing to fight federal regulation of her industry.

Her organization, DeVault said, the Community Financial Services Association of America, boosted its federal budget by a factor...

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The Payday Lenders Confront Their Mortality

(31) Comments | Posted May 17, 2010 | 11:35 PM

There aren't many industries that might be wiped away in a few strokes of a pen but then the country's payday lenders -- those in the business of giving a person $100 today and hoping they pay back $115, if not more, in two weeks -- are hardly your average...

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More "Special Loopholes"? The Pentagon Versus the Car Dealers

(33) Comments | Posted May 12, 2010 | 11:16 PM

Thirty years ago, Rosemary Shahan was married to a Navy man and furious over a car buying experience she describes as "horrendous."

"The dealer said to our face," Shahan said, "'Go ahead and sue, you'll be shipped off anyway.'"

Shahan's response was to picket the man's lot for...

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