New York’s Payday Lending Ban

Ordinary people in New York who have less-than-perfect credit face regulatory pressure to do what politicians decide is “good for them” as free enterprise, self-determination and the rule of law take yet more hits from “well-meaning and concerned” politicians and the big banks. Despite overwhelming evidence showing that ordinary working people from the lower end

Despite U.S. Economy’s Mixed Messages, Fed Official Insists It’s Healthy

Just when Americans have started letting their guards down and getting their hopes up about the strength of the U.S. economy, a variety of factors are converging to hint at a potential slowdown. What’s worse is that some economists fear that a full-fledged recession is looking increasingly possible. At a time when it feels like

The Economic Fallacy of Pulling Yourself Up by Your Bootstraps

In America, success is commonly attributed to hard work. When someone enjoys financial rewards or a stroke of luck, they are often praised for their intelligence, creativity or dedication. When someone is at the opposite end of the spectrum and dealing with bankruptcy, a looming foreclosure or unemployment, they are often told to “pull themselves

Millennials Struggle to Build Credit

Having reached their adulthood during the recent economic recession, millennials in the workforce are now making some interesting choices concerning their financial stability, many of which have economists and financial experts concerned. Although the economy has continued to improve over the last several years, there continues to be some mistrust with the financial system currently

The Coming Collapse of the Petrodollar

Energy and money make the world go round. Just as the Spanish discovery of Aztec gold mines increased the value of the Spanish gold dollar, the agreements between the United States and Middle East countries has increased the value of the United States petrodollar. Industrial output, consumer transportation and international trade all benefit from stable

TransUnion Expects a Stronger Consumer Lending Market in 2016

The consumer lending market was one part of the financial industry that suffered significantly during the recent recession. As the economy has continued to rebound in recent years, consumer or personal lending, which includes auto and home loans, has also made important strides that reflect an increase in the confidence in the economy. The recent

Was the 12/17/2015 Hike in the Federal Funds Rate a Mistake?

Effective last December, the Federal Reserve raised the federal funds interest rate (short-term interest rate) by 25 basis points (¼ of 1%). This moved the federal funds rate from a range of 0% – 0.25% to a target of 0.25% – 0.50%. Though the rate increase was statistically insignificant, Fed watchers called the move historically

Online Payday Loan Solutions – The Appeal and Convenience

Online payday loan solutions continue to grow in popularity among people who need financing for a variety of reasons. As people lead increasingly busy lives, they often have less time to devote to their financial and banking needs. The scant few moments they have each day to balance their checkbook or pay bills may leave

Online Payday and Short Term Loans – Is the Convenience Worth It?

Online payday and short term loans continue to grow in popularity among people who need financing for a variety of reasons. As people lead increasingly busy lives, they often have less time to devote to their financial and banking needs. The scant few moments they have each day to balance their checkbook or pay bills

Hiring in a Slow Economy: Tips for Adding Help on a Tight Business Budget

Hiring is usually downsized by companies when the economy is slow, and this often means imposing a hiring freeze until cash flow improves. However, an economic slump may be the prime time to find top talent as competitors lay off staff in an effort to minimize expenses. Businesses may also need to hire replacements for

Loans to Consumers and the Impact of Zero and Negative Interest Rate Policies

The best loans for individuals and their families are often determined by interest rates. Many individuals are not really certain how interest rates are determined. Zero Interest Rate Policies (ZIRP) and negative interest rates can lower the cost of loans of all types, from home loans, car loans, student loans, credit cards and everything in

Is the Cash Advance Industry Hurting or Helping Small Businesses?

One of the ways that many small businesses achieve their goals is through the business cash advance industry. There are approximately 28 million small businesses in the United States, and new businesses open up each year. Opening a successful small business and keeping it in operation for over five years is no easy feat. One

Consumer Protection vs. Governmental Control – Developments in the Payday Loans Industry

Consumer Protection vs. Governmental Control –  Developments in the Payday Loans Industry If someone were to stop random people on the street and ask how they feel about payday loans and installment loans, they’d likely hear a mix of appreciation, confusion and trepidation. Consumers who have gone through difficult times in their life have likely