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China-Russia dollar move may signal end to manipulation of yuan

China and Russia announced Wednesday they will no longer trade with each other using the U.S. dollar. The announcement came as top officials from China and Russia met in St. Petersburg to forge bilateral cooperation in trade and energy. The China-Russia dollar decision isn’t seen as detrimental to U.S. currency and could force the value
Sinkhole

Fannie Mae and Freddie Mac have quite the tab

Over the past few years, mortgage houses Fannie Mae and Freddie Mac have been placed in conservatorship. The government has been in charge, and the companies have been given massive amounts of money in bailout funds. The emergency loans given to the mortgage houses were not from TARP funds, and taxpayers are starting to protest

7 Reasons why Easy Loans Should be Avoided at all Cost

Easy loans aren’t always the best financing option, and they’re almost never a wise solution when your income already doesn’t stretch far enough. The temptation to borrow increases as a direct result of how easy it is to apply and get approved for a loan. However, easy and quick loans should be avoided except in

5 Benefits of Secured Loans When Starting a Business

There are many benefits of getting a secured loan to use in your business. Business lending grows increasingly difficult to obtain in today’s economy. You have to show your business records, profit and loss statement and financial projections in a sound business plan. Your credit scores–both personal and business–affect whether your loan is approved. If

Should Loans with Poor Credit Requirements be More Regulated?

Increasing controversy surrounds the question of whether loans with poor credit should be more strictly regulated by the federal or state governments. Democrats passed the Dodd-Frank Act of 2010 to address the abuses of lenders that caused the mortgage crisis of 2008-2009. Supporters of greater regulation feel that many short-term and bad credit loans take

Fast Loans aren’t Always Good Ones: Here’s Why

Loans today enjoy a faster approval process, so it’s rarely necessary to select a lender based on advertising claims of fast loans or quick approvals. Faster approvals can encourage reckless behavior and convince normally cautious people to borrow more money than they can afford to repay. The faster the loan, the more likely there are

Bad Credit Loans Are Here to Stay – Despite Tighter Lending Standards

Bad credit loans seem likely to continue despite tighter lending standards and increased federal and state regulations. The debate over regulating the financial industry with tough reforms, limits on interest rates and other requirements has seesawed back and forth. Democrats created the Consumer Financial Protection Bureau to regulate the financial industry after mismanagement became apparent

How to Use No Collateral Loans to Start a Small Business

Regardless of the type of small business that you want to start, it may be possible for you to find no collateral loans that you can use to start your small business. You will need a certain amount of cash. If you have been unable to save enough to purchase the tools you will need,

Small Loans Industry Thriving, Despite Regulatory Assaults

The financial sector saw changes following the Great Recession; one such change was the shift to small loans. Borrowers are taking out small loans with bad credit at an ever-increasing rate. While this is good for the burgeoning industry, the sector’s growth is catching the eye of regulators like the Consumer Financial Protection Bureau or

Online Loans Continue to Rapidly Gain Market Share

There is a good reason online loans continue to gain market share: with millennials reaching a point in their lives when they need and are able to borrow money, modern-day lenders are being forced to change the way that they do business. According to millennials, traditional lenders are sluggish when it comes to originating and

The CFPB Still Gunning for Payday Loans, Despite Trump

Many thought that the change of guard from a democratic to a republican president would cause the agency to be gutted, resulting in decreased regulations, but the CFPB is still gunning for payday loans, despite Trump being in office. After the Great Recession swept the nation, legislators were eager to avoid a repeat. To protect

Easy Loans Carry a Hard Price – Don’t Let One Bury You in Debt

As long as you have a checking account and steady income, it is tempting to click on one of the dozens of flashing advertisements for easy loans and it does not take much to get lured in. Many lenders do not require credit checks, which means you won’t get an inquiry ding on your FICO

Cash Loans Act Passes In Oklahoma, Cuts Interest Rates in Half

A bill capping interest rates for cash loans was recently introduced in the Oklahoma legislature according to a report posted at Reddirtreport.com. Unlike many bills limiting interest rates, this bill would cap interest rates at 17-percent interest per month instead of 36 percent per year. House Bill 1913 was submitted by Rep. Chris Kannady (R-Oklahoma

Payday Loans in America: A Brief Historical Overview

The payday loans industry evolved naturally in the United States as a result of deregulation, market forces, stricter FICO guidelines and the rise of Internet lending. An article at Loannow.com suggests that some form of the payday loan has been around since ancient times and includes loan sharks, personal lenders, store credit, bar tabs and

Bad Credit Loans are as Available as Ever, Experts Proclaim

An unfortunate reality of today’s financial world is that those who need to borrow money the most typically have the toughest time doing so. People who have bad credit may think that getting the money they need is impossible. However, bad credit loans are as available as ever for those who know where to look.

England Cracked Down on the Cash Advance Industry; the World Ended (Really)

In January 2015, Britain capped interest rates on loans issued by cash advance lenders. It did so in response to a growing concern by the Church of England and lawmakers. Their concern was about high interest rates on short-term loans. They were worried that these rates were sinking borrowers into a quicksand of debt. However,

Why Installment Loans are Here to Stay

With regulatory action heading down the pipeline for alternate lenders, companies that provide these loans must make lending changes. One such change is longer repayment terms, which is why installment loans are here to stay. The benefits of installment loans include predictable payment amounts, gaining access to funds quickly and more affordability. Lengthy Repayment Terms