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8/31/2010State payday loan fight a Madigan family affair
The Watchdogs: The effort to crack down on "payday loans" in Illinois claimed a big victory in the Legislature last spring: passage of a state law setting new caps on the high interest rates lenders charge and also expanding the states tracking system to help ensure that consumers dont end up borrowing more than they can repay.
(Published: Mon, 30 Aug 2010 02:00:37 -0700)Should “Payday Loans” Be Outlawed?
Over the years I’ve seen many articles critical of the short-term financial product commonly known as a “Payday Loan.” They have been termed abusive for their high interest rates and the fact that people often have multiple loans and fall...
(Published: Mon, 30 Aug 2010 13:03:14 -0700)Payday Lenders Question The Implications of House Bill 1351 in Colorado, Reports About Payday Loan
According to About Payday Loan, recently in Colorado, House Bill 1351 was passed in an attempt to limit APR’s for payday loans in Colorado, but critics from both sides are now questioning the true implications of HB 1351 for both consumers and payday lenders.
(Published: Sat, 28 Aug 2010 00:01:00 -0700)Borrow Smart Applauds Jackson County Supervisors for Rescinding Anti Payday Loan Resolution
The Borrow Smart Mississippi Board of Directors applauds the Jackson County Board of Supervisors for rescinding a resolution recently passed that would have had negative consequences for short term borrowers and the short term lending industry.
(Published: Mon, 30 Aug 2010 13:34:00 -0700)Furor erupts over Colorado payday-lending regulations
A controversy over payday-lending regulations has escalated after the two Democratic lawmakers behind the industry overhaul said the Republican attorney generals staff has favored lenders when it comes to fees.
(Published: Mon, 30 Aug 2010 00:08:06 -0700)Madigan Family Benefits From Payday Loan Bill
Representative Michael J. Madigan In the spring, payday loan reform passed the Illinois legislature , capping high interest rates for consumers and expanding a tracking system to keep tabs on lenders. While the measures certainly benefited borrowers of high interest loans, the Sun Times reports that the Madigan family benefited from the loan as well. Lobbyist Jordan Matyas, son-in-law to House ...
(Published: Mon, 30 Aug 2010 11:51:29 -0700)Payday loan signs still pepper Tucson
Nearly two months after payday loans became illegal in Arizona, some stores have covered up the "Payday" portion of the sign, others have replaced them with signs for other products; yet, signs still exist in Tucson that advertise the high interest loans. Attorney General Terry Goddard says those signs should be gone. "It would be very suspicious if the name on the store still says payday loans ...
(Published: Fri, 27 Aug 2010 16:09:40 -0700)Payday Loan Business Booming in Wyoming, Payday Loan Trust Concurs
Payday Loan Trust concurs facts stated in an article by Public News Services, payday lending business is booming as the amount loaned by payday lenders has increased by up to 15 percent each year for the past 10 years.
(Published: Thu, 26 Aug 2010 00:01:00 -0700)Once a 'Madigan minion,' Matyas is now family
Today, Jordan Matyas is a son-in-law of Illinois House Speaker Michael Madigan. Five years ago, he was a "Madigan minion" -- a widely used nickname that the speakers staffers have embraced.For about six months in early 2005, Matyas, a Chicago lawyer, worked as an assistant counsel to Madigan. While there, he worked on payday loan reforms.After leaving Madigans staff, Matyas got a job ...
(Published: Mon, 30 Aug 2010 02:00:37 -0700)Payday Loan Collection Scam Warning
Attorney General Lisa Madigan today warned Illinois residents to be on the alert for scam artists posing as collectors of payday loan debt.
(Published: Wed, 25 Aug 2010 13:06:50 -0700)
