Things we think you should know. . . .

Q: Who runs PLIWatch.org?

A: William Stotler and Robert James.

We think it's important that you know we're not speaking for the industry. Or for consumer advocate groups. Or for lobbyists. We're independent observers. Sure, we do accept donations and sponsorships. But any support we get from anyone is just that--support for what we're already doing.

William Stotler - This site's developer, editor, and podcast host, William, is a professional services consultant specializing in Web content publishing. He is currently consulting within state government. Since 1997 he has consulted with the pharmaceutical, biotechnology, banking, higher education, and financial industries.

Robert James - This site's marketing director, Robert, is a professional Web marketing specialist. He is currently providing his services to an employer in the financial industry. Robert has provided his skills since 1997 to marketing firms in marketing and technical roles.

Q: Why build and run this site? What's your motive?

A: Because everybody else is taking sides. And it's interesting.

Everyone interested in the payday loan industry seems to take "sides." The payday loan industry pays lobbyists to say how the industry helps consumers in dire circumstances. Payday loan stores advertise that they connect customers with money, "fast and easy." Consumer advocates get money from their supporters to "take a stand" against the "greedy payday loan companies." The Web sites we've found are slanted (in many cases dramatically) with either "for" or "against" bias. Now, we're not claiming we're "objective." True, pure "objectivity" is impossible, in our opinion. But we are honestly trying to present information we find about the industry--and, de facto, "both sides" get represented. The issues are complicated--even though every side seemingly wants to reduce the issues down to simple "right" and "wrong." We believe people can make up their own minds, given facts. Why bother with this issue? Both William and Robert know about it and it is interesting to observe.

Q: Do you know what you're doing?

A: Sure. We're not CNN or a public policy think tank, but we don't have to be.

We're not professional newspeople--there are plenty of those. And we're not "financial industry analysts"--there are plenty of those, too. As we've said, we're not activists or industry spokespeople, either. Both William and Robert, however, understand quite a bit about the payday loan and cash advance industries. We both have also been dealing with the Web professionally since late 1996. William understands content, usability, and the concept of "audience" in and out--he deals with it editorially and technically on a professional level. Robert understands the payday loan industry "street". And he knows how to market us on the Web so people like you can find us. We recommend you let the quality of what we've pulled together for you speak for us.

Q: What's your position on the payday loan industry?

A: That's complicated. We're just observing but it is a love/hate thing.

What's PLIWatch's official position on the payday loan industry? Some people need a payday loan to stay afloat. They really do. For them, it's good that payday lenders exist because banks, credit card companies, and other lenders have turned their collective backs on that person in need. Maybe that person has a poor credit history or just goes to a payday loan store because he or she doesn't have time to try other options. But that person does need a small loan quickly. If people like that didn't exist the industry wouldn't exist.

Many payday lenders aren't people you'd want to spend any time with. Some are crooks. Some are stern and deliver what they promise, to the letter. They're fair, which is not the same as being ethical, but it will do. When a lender sticks to the rules (or the spirit of the rules if he or she is running in a "gray area") and his or her company is operating legally, that's business. Some lenders do break the law or take advantage of gray areas on a regular basis--we hope they get busted, although we do think they'll mainly get away with it. Which leads us to. . . .

Federal, state, and local government "regulating" this industry coast-to-coast? Pah. We think they mostly turn a blind eye or write surface-level legislation to be perceived as "doing something." They're slow to react with regulations, leave loopholes in the regulations when they do react, and aren't regulating what's out there now successfully. Lots of legislation, little long-term action, plenty of knee-jerk reaction. The thing about government and this industry is that the government seems to want to regulate what happens but there is little follow-through.

Told you it was complicated. Feel free to ask questions by E-mail if you want to know more--but please keep it interesting.