newsarchive
3/1/2010Scam 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)What others Are saying | Protecting Missouri from payday lenders (The Kansas City Star)
Protecting Missouri from the sharks Over the years, Missouri lawmakers have allowed payday lenders to run amok among some of the state’s most desperate and vulnerable residents.
(Published: Mon, 01 Mar 2010 02:06:54 GMT)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 08:52:51 GMT)Banks: The new payday lenders? (Worcester Telegram & Gazette)
U.S. banks, threatened by new limitations on overdraft fees, may look to short-term products similar to "payday" loans to help replace as much as $20 billion in lost revenue.
(Published: Sun, 28 Feb 2010 10:10:36 GMT)Payday lenders giving advances on unemployment checks (Los Angeles Times)
Critics say the high fees that come with the loans send the jobless into a cycle of debt. The industry sees it as a service for people in need. The payday loan industry has found a new and lucrative source of business: the unemployed.
(Published: Mon, 01 Mar 2010 04:55:05 GMT)Cash Doctors Australia Extends $2 Payday Loans Offer Indefinitely Due To A Huge Increase In Product Demand (PRWeb via Yahoo! News)
Cash Doctors, Australias leading online payday loans and cash advance provider, responds to increasing market demand by extending their $2 first time loan offer. Borrowers who have not had a cash advance before with the company can access a payday loan and repay only $2 more than they borrow.
(Published: Mon, 01 Mar 2010 04:03:00 GMT)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 20:36:55 GMT)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 00:29:14 GMT)Editorial: Rough road for loan limits (Memphis Commercial Appeal)
They can pack a legislative hearing room with so many members and lobbyists theres no place for anyone else to stand. Their advertising campaigns are some of Tennessees best. What some members of the short-term consumer loan industry do for their customers is not always so great. Setting up shop principally in poor neighborhoods, they collect interest and fees that, combined with loan ...
(Published: Sun, 28 Feb 2010 06:04:00 GMT)Payday loan intitative proposed (KTVQ Billings)
BILLINGS - A new initiative to cap payday loans in Montana to 36 percent is drawing mixed reactions. One payday loan business owner in the Magic City says if the initiative passes, it could put all small financial services out of business.
(Published: Wed, 24 Feb 2010 00:43:26 GMT)
