Payday Loan News

1. North Americans sinking under payday loan debt (Vancouver Province)
   OTTAWA - Payday loans and fees cost Americans $4.2 billion a year and governments must impose strict interest rate caps or outright bans to protect consumers, urges a major new study that has implications for Canada, which is looking to regulate the industry.
   (Published: Fri, 01 Dec 2006 14:34:44 GMT)

2. U.S. Families Lose Billions To Payday Lenders (Local 10 Miami)
   Payday lenders pocket $4.2 billion in "excessive fees" each year from Americans who seek a two-week loan and end up trapped in debt.
   (Published: Fri, 01 Dec 2006 14:38:27 GMT)

3. Report Says Payday Loan Fees Cost Consumers More Than Four Billion (NBC 26 News Augusta)
   A consumer protection organization says the payday loan industry took more than four billion dollars out of consumer pockets in 2005 because states have not done enough to restrict high interest loans.
   (Published: Fri, 01 Dec 2006 14:27:03 GMT)

4. Payday-loan controls urged (Honolulu Advertiser)
   COLUMBIA, S.C. — The payday-loan industry took $4.2 billion out of consumer pockets in 2005 because states have not done enough to restrict high-interest loans and practices that trap people in financial quicksand, according to a report by the the Center for Responsible Lending.
   (Published: Sat, 02 Dec 2006 12:31:09 GMT)

5. Rate cap sought on 'payday' borrowing (Deseret Morning News)
   "Payday loan" stores in Utah collect at least $69 million in excess, "predatory" fees annually from Utahns who expect two-week loans but end up trapped in debt, according to a new national study by the Center for Responsible Lending.
   (Published: Fri, 01 Dec 2006 07:47:35 GMT)

6. Payday loan study shows hidden cost (Contra Costa Times)
   High-price payday loans cost Californians an estimated $365 million in 2005, more than any other state, according to a study released Thursday. Nationwide, consumers paid $4.2 billion in interest and fees on such loans last year, up 24 percent from $3.4 billion in 2003, the Center for Responsible Lending report found.
   (Published: Fri, 01 Dec 2006 14:58:01 GMT)

7. Payday-loan fees add up to billions, report says (The Columbus Dispatch)
   COLUMBIA, S.C. — The payday-loan industry took $4.2 billion out of consumer pockets in 2005 because states have not done enough to restrict high-interest loans and practices that trap people in financial quicksand, the Center for Responsible Lending said yesterday.
   (Published: Fri, 01 Dec 2006 12:30:24 GMT)

8. Report says payday loan fees cost consumers at least $4.2B (Boston Herald)
   COLUMBIA, S.C. - The payday loan industry took $4.2 billion out of consumer pockets in 2005 because states have not done enough to restrict high interest loans and practices that trap people in financial...
   (Published: Fri, 01 Dec 2006 12:30:52 GMT)

9. State urged to restrict payday loans (St. Petersburg Times)
   The payday loan industry took $4.2-billion out of consumer pockets in 2005 because states, including Florida, have not done enough to restrict high interest loans and practices that trap people in financial quicksand, the Center for Responsible Lending said Thursday.
   (Published: Fri, 01 Dec 2006 15:15:20 GMT)

10. Report says payday loan fees cost consumers at least $4.2B (Journal Gazette & Times Courier)
    COLUMBIA, S.C. - The payday loan industry took $4.2 billion out of consumer pockets in 2005 because states have not done enough to restrict high interest loans and practices that trap people in financial quicksand, the Center for Responsible Lending said Thursday.
    (Published: Fri, 01 Dec 2006 22:58:50 GMT)