7onyourside's Blog

Welcome to the new 7 On Your Side blog.  I think we're finally getting the hang of this internet thing.

I'm John Craven, the producer for 7 On Your Side.  Along with reporter Chris Coffey and photojournalist Shane Gordon, we make up Austin's longest-running consumer and investigative team.  We want to make this blog a place to interact with you, discuss stories we're working on, and get your feedback on stories we've done.  More than anything, we want our stories to get people talking.

Feel free to leave us story tips here as well.

Tonight's story features the pay day loan industry.  You've probably seen them around Austin, especially in lower-income neighborhoods.  Pay day lenders say they provide fast cash to people who don't qualify for traditional loans.  Critics say they prey on students, the poor, and those with bad credit, trapping them in a cycle of debt.

Whatever your view, 7 On Your Side discovered that payday lenders operate with almost no government oversight in Texas, because of a little-known loophole in state law.

Check out the story and let us know what you think.  (Once it airs, you can see it here:  http://www.myfoxaustin.com/myfox/pages/Home/Detail;jse
ssionid=0286DB810FFE70CAD1C772CC598CADB8?contentId=8604
92&version=165&locale=EN-US&layoutCode=TSTY&pageId=1.1.
1&sflg=1)  Should pay day lenders face more state regulations?  Do you think they unfairly target vulnerable people, or should customers know what they're getting into ahead of time?