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2/28/2010

1. Math doesn't work for Arizona payday loan industry (AP via Yahoo! Finance)
   The math isnt adding up for Arizonas payday loan industry. The industry that provides small short-term loans is fighting in the Legislature to keep itself alive beyond a June 30 termination date that was included in the authorization law enacted 10 years ago.
   (Published: Mon, 22 Feb 2010 15:53:30 GMT)

2. Scam claims victim has payday loan debt (Tacoma News Tribune)
   A new collection scheme aimed at payday loan customers is threatening Washington consumers, says the Washington State Department of Financial Institutions.
   (Published: Sat, 27 Feb 2010 08:18:42 GMT)

3. Big banks get into the payday-loan business (St. Louis Post-Dispatch)
   Even as payday lenders battle new regulatory proposals, they’re also facing a new competitive threat from an unexpected quarter: Big banks. Bloomberg reports that banks are exploring the world of short-term, high-interest loans because of a crackdown on their ability to levy overdraft fees.
   (Published: Wed, 24 Feb 2010 20:42:05 GMT)

4. Initiative would cap payday loan rates (The Montana Standard)
   HELENA — Stymied at the Legislature, some groups said Tuesday they instead will ask voters to cap at 36 percent the annual interest rates that payday lending businesses can charge, compared with the current 400 percent maximum.
   (Published: Thu, 25 Feb 2010 10:13:13 GMT)

5. Payday loans take a hit in Arizona; likely dead after June 30 (Douglas Dispatch)
   PHOENIX Efforts by the payday loan industry to remain in Arizona after June 30 were dealt a serious and potentially fatal setback Monday when a key Democratic lawmaker said he can’t support what the lenders want.
   (Published: Thu, 25 Feb 2010 06:20:26 GMT)

6. New payday loan limit to take effect (Fort McMurray Today)
   CAROL CHRISTIAN Today staff A limit on costs to protect consumers from spiralling payday loan costs comes into effect March 1 and is the last piece of a new regulation governing those operations.[...]
   (Published: Tue, 23 Feb 2010 01:49:15 GMT)

7. Payday lending not on agenda (Lexington Herald-Leader)
   The best thing that can be said of payday lenders is that their practices are no more predatory than
   (Published: Fri, 26 Feb 2010 06:41:04 GMT)

8. Rally urges payday loan limits (The Cincinnati Enquirer)
   FRANKFORT - Payday lenders in Kentucky lent nearly $1billion in 2008, collecting roughly $158 million in “predatory fees, according to a report a Kentucky public interest group released Tuesday.
   (Published: Wed, 24 Feb 2010 12:41:05 GMT)

9. Kentucky group calls for movement on payday bill (AP via Yahoo! Finance)
   A group that wants payday loan interest in Kentucky to be capped at 36 percent gathered at the state Capitol to urge a fair hearing for a bill locked in a House committee.
   (Published: Wed, 24 Feb 2010 15:14:53 GMT)

10. Bill to cap payday loan fees appears dead (Louisville Courier-Journal)
    A bill that would cap fees on payday loans appears dead, at least in the current legislative session.
    (Published: Thu, 25 Feb 2010 00:34:27 GMT)