Payday Loans – Are They as Bad as Some Make Them Out to Be?

Most of the payday loan industry’s criticism is politically motivated and calls to mind the classic meme of a scout trying to help an old lady across the street when she doesn’t want to go. Politicians are filled with good intentions to legislate from ivory towers while down-to-earth people struggle when they don’t have financial

Clinton Vows to Raise Taxes — A Promise She’ll Keep

 Few Americans believe that their taxes are too low, especially when the amounts they pay in addition to federal and state income taxes are included. For example, payroll taxes are deducted from earnings. There are federal taxes on gasoline, cell phone bills, hotel rooms, airline tickets and a bevy of other goods and services. Sales

Should Installment Loans Be Subjected to Interest Rate Caps?

Although many payday lenders offer installment loans as well as payday loans, the two products are quite different. Payday loans require repayment in full within a very short time, which can be as little as 14 days. Installment loans, however, are repaid through multiple monthly payments. Many different lenders, including credit unions and banks, offer

Oil Continues Decline as New Rigs Come On Line

American drivers have had to deal with fluctuating gasoline prices for many years. However, in February 2016, the average price for all grades of gasoline dropped to slightly more than $1.87, according to the U.S. Energy Information Administration. Prices crept up over the next months, peaking at almost $2.47 per gallon in June before declining

Installment Loan Solutions Offered by Startup Lenders

Advances in technology have had a significant impact on the way that many Americans work, shop, pay their bills and access entertainment. Technology has made it possible to shop for an insurance policy, purchase it online and receive immediate proof of coverage. For years, many lenders have offered online applications for everything from mortgages to

Stocks Soar to Record Highs Even with Rate Hikes on the Horizon

Stocks recently soared to record highs even with rate hikes on the horizon. The NASDAQ and the S&P 500 both closed strong after the jobs report came out with numbers that were better than expected. The Dow Jones increased by 190 points, which meant that for the week, it posted a gain. Top contributors included

Why It’s so Hard to Regulate Payday Loan Companies

In an attempt to protect people from themselves and the payday loan industry, the Consumer Financial Protection Bureau, or CFPB, intends to implement a new set of rules. Why is it so hard to regulate payday loan companies? The answer to this can be found in Georgia’s past, which is rife with attempted legislation involving

If Payday Lending Ends, What Replaces It?

Payday lending has been attacked from many quarters because the industry is an easy target in today’s media-savvy, soundbite culture. The Consumer Financial Protection Bureau, or CFPB, has been tasked with recommending financial reforms, and despite limits to its powers that include not being empowered to set interest rate caps, the agency has arbitrarily recommended

Stocks Continue to Break Records – Is It Really Different this Time?

Stocks continue to break records despite financial analysts’ predictions of doom due to Brexit, or Britain’s decision to leave the European Union, and sluggish economies throughout the world. Artificially low oil prices due to the price war between Saudi Arabia and shale-oil producers in the United States, despite providing a big benefit to consumers, have

Economy Finally Shows Signs of Decent Growth

The recent jobs report certainly made some investors happy as the surprisingly high numbers brightened up the country’s economic outlook. For the second straight month, the U.S. added jobs. Wages also picked up a little steam. Good news came from the trading floor as well since stocks recently posted record highs while volatility is hovering

Despite Detractors, Payday Loans are Often Helpful

Comedian Sarah Silverman performed in a skit about payday loans for “Last Week Tonight with John Oliver.” While in character, she said, “If you’re considering taking out a payday loan, I’d like to tell you about a great alternative. It’s called ‘Anything Else’.” This statement certainly highlights the negative feelings that people have about the

Most New Jobs Created in the Recovery are Second Rate

While economists and investors are celebrating the new jobs report that shows 255,000 new jobs were added in July, many of the new jobs created in recent years have been second-rate ones. If an individual is unable to live by having just one of the new jobs created, then he or she may need two

Cash Advance Loans – A Technological Solution

Their is a new option that is a different kind of cash advance loan, but is it a better solution? It might be. The service offers several benefits that are tough to ignore. For many Americans, money is a little too tight while credit is becoming harder to come by. A recent survey commissioned by

Use of Installment Loans Skyrockets – Here’s Why

  The category of installment loans covers a wide variety of both secured and unsecured loans. Secured installment loans are those that require the borrower to pledge collateral; financing a car or taking out a mortgage are examples of secured installment loans. Unsecured installment loans include personal loans, student loans and signature loans, and these

Cash Advance Industry Under Siege as CFPB Violates Dodd-Frank

Cash advance companies are being wrongfully targeted by the Consumer Financial Protection Bureau, or CFPB. The CFPB was created as a tool of financial reform in the legislative package that was authorized by the Dodd-Frank Act, but the law specifically includes terms that prohibit setting interest rate limits, as they are trying to do with

Wages are Rising! Jobs Are Increasing! Is a Real Recovery Here at Last?

The Bureau of Labor Statistics has released its report for July 2016, and the numbers have some people speculating that a real recovery may be at hand. Wages have been rising consistently for the past few months; the average hourly wage for July was $25.69. The unemployment rate was 4.9 percent for July, which was

Postal Banking – A Possible Payday Loans Alternative

While some consumers turn to payday loans in a pinch to cover unexpected expenses, a growing group is now relying on the high-interest credit lines to supplement their inadequate income until the next paycheck. There are limited ways that people who do not have a financial cushion or strong credit history can access quick cash