Business

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

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

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

Merchant Cash Advance Loans vs Business Loans – Pros and Cons

Merchant cash advance loans and traditional business loans are two options for increasing cash flow. Whether your goal is building up inventory, launching an advertising campaign or investing in new equipment to help operations run more efficiently, finding working capital is a major challenge for most business owners. Two options for increasing cash flow are

Payday Loans – Symptoms of an Economy Failing Millions

While the Consumer Protection Financial Bureau, or CPFB, is busy looking for ways to reign in or decimate the payday loan industry, it’s becoming clear that payday loans aren’t the problem. Instead, they are the symptom of a failed system. When did the system fail? Some would argue that it never got off the ground.

As Business Fundamentals Continue to Deteriorate, Markets will Eventually Follow

While it appears that emerging markets are rising, business fundamentals continue to deteriorate. This means that markets will eventually follow. For 2016, emerging markets are seeing the most trade action. In fact, ValueWalk reports that over the last few weeks, debt funds and emerging market equities have seen record movement. As Business Fundamentals Continue to

Will Installment Loans be Impacted like Payday Loans by the CFPB?

The Consumer Financial Protection Bureau, commonly known as the CFPB, has announced its proposed regulations for lenders who make small-dollar loans. Most of the media attention has been focused on payday loans, but the new regulations will also impact title loans and installment loans. Ever since the CFPB began evaluating ways to regulate payday loans,

Cash Advance Store Owners can Remain Secret in South Dakota Ruling

In recent years, the cash advance industry has faced mounting criticism from a wide range of opponents. President Obama and Hillary Clinton have both gone on record as supporting stringent new regulations for the industry. State legislators, celebrities and debt-relief agencies have also spoken out against lenders who offer cash advances or payday loans. In

Payday Loan Bans – What Happens When They Are Made into Law

What will really happen if payday loans are banned? The consequences could prove wide-ranging and affect multiple stakeholders in the world’s increasingly fragile economy. An article posted on the WashingtonPost.com conjectured that the United States would become a wonderful garden without all the tacky neon signs for payday loans that are common in most areas

Payday Loans Draw Further Ire from the Consumer Financial Protection Bureau

A new study released by the Consumer Financial Protection Bureau, or CFPB, targets the beleaguered payday lending industry with yet another charge of malfeasance. Apparently, these lenders are trying too hard to collect their legal debts from borrowers. JDSupra.com reveals that the report, which was published before the CFPB released its long-awaited guidelines on June

Payday Loan Alternatives – There are More Than You Think

A low FICO score or history of late payments prevents many Americans from obtaining low-rate loans through traditional methods, such as credit cards and unsecured bank loans. When faced with bad credit and an immediate need for cash, payday loans are a convenient option for taking care of surprise expenses. However, payday loans are not

Corporate Welfare Is Neither Free Market nor Capitalism

  Corporate welfare is the bestowal of money from a government to corporations. These bestowals may be to all corporations or just certain businesses, and the money may be in the form of tax breaks, guaranteed loans, grants or other types of preferential treatment. Corporate welfare is sometimes called cronyism or corporatism. Regardless of the

Truth in Payday Lending – The Online Lenders Alliance Sets the Standard

It’s important to understand the truth about payday loans–or any loan or type or credit–before agreeing to the terms. The recent rise of the OnlineLendersAlliance (OLA)has happened in response to lots of misinformation, hyperbole and politically motivated horror stories. People who want to apply for a short-term or Internet loan–at an office location or from

Google Censors Entire Payday Industry; Who Will Be Next?

Google, which handles an overwhelming percentage of online searches, has rules in place that ban advertising for products such as guns, tobacco, illegal drugs and products that don’t fit the company’s “family image.” These are usually AdWords ads, which are those listings that appear along with organic search results. Google decided to extend its mandate

Clinton Praises Pending Payday Loan Restrictions

In recent years, payday lenders have endured increased scrutiny and harsh criticism from a variety of sources. Consumer protection agencies, citizen’s action committees, credit counseling services and even actors have all made public statements condemning payday loans. Many politicians have been quite vocal about the issue as well. Hillary Clinton has become one of the

Elizabeth Warren Takes on the Payday Lending Industry

When Elizabeth Warren was still teaching law at Harvard, she came up with a plan to help the country’s borrowers. The senator’s idea was to establish an agency that protected consumers from crooked financial companies in the same way that the Consumer Product Safety Commission keeps people safe from faulty washing machines. Warren’s efforts resulted