Moneyblog Predatory Lending

If you’ve been following the news, you may have heard of the $800 billion payday loans of sorts the government is about to give the consumer credit industry. They’ve already spent about $500 billion in bailing out the ailing companies that provide it to keep them from going under, why not give them [...]

Consumer Credit Loans and Short Term Installment Loans are playing the part of American heroes as people try to take advantage of door buster sales from yesterday’s Black Friday Advertisements. It will be interesting see how much will be spent by consumers this holiday season despite the economic downturn.
“Never be afraid to pass up [...]

Yes David Bowie, there is life on Mars, and no, you can’t get payday loans there.
DISCOVERY!

NASA scientists have discovered gigantic underground reservoirs of frozen water on Mars, away from its polar caps. This is yet another positive sign that life may be - and has been - sustainable on the red planet.
Scientists theorize that the [...]

The common complaint by Ohio payday loan companies regarding the hotly contested state House Bill 545 is that it makes it impossible for them to conduct business. With an annual percentage rate cap of 28 percent, loan companies are able to charge customers only 1.08 percent interest per $100 of a four-week loan (previously two-week).
That [...]

The Fight Continues for Payday Loan Stores in Arizona
The war over payday loans continues in Arizona. Last week voters rejected Proposition 200, a ballot initiative financed and written by the loan companies to allow them to continue to charge their current interest rates on small loans.
Those who voted against proposition 200 claim that [...]

Soon after the New Jersey legislature passed a tough law aimed at controlling predatory lending, State Sens. John Adler (D., Camden) and Gerald Cardinale (R., Bergen) teamed up to sponsor a bill that weakened it.
Quoted With Edits From: Predatory lending is an issue in N.J. (The Philadelphia Inquirer)
Ah, I see how it is. Adler and [...]

Proposition 200 is coming up for a vote on November 4, and Arizona media is doing their best to cast unwarranted aspersions on an industry - short term installment loans - that wants to maintain its livelihood and continue to compete with other financial institutions in the spirit of the free market.
Payday installment lenders offer [...]

Soon after the New Jersey legislature passed a tough law aimed at controlling predatory lending, State Sens. John Adler (D., Camden) and Gerald Cardinale (R., Bergen) teamed up to sponsor a bill that weakened it.
Quoted With Edits From: Predatory lending is an issue in N.J.
The Saga Continues
There has been alot of information in the [...]

Why is there such uproar about fees charged by payday loan lenders, but very little attention at all to the banks, who sneakily charge all kinds of fees?
At a time when more consumers are struggling to pay their bills, large banks are raising some account fees to record levels.
Quoted With Edits From: Rising bank fees [...]

Read this and learn the unbiased truth about payday loans, Ohio voters.

The Buckeye Institute For Public Policy Solutions, a self-described “nonpartisan research and educational institute devoted to individual liberty, economic freedom, personal responsibility and limited government in Ohio” has weighed in on nine important myths about payday lending. May the analysis of Dr. Tom Lehman [...]