Installment Loans – Let the States Decide

Called by different terms that include marketplace loans, nonbank loans, shorter term lending and Internet-based loans, installment loans work differently than most payday and short-term loans such as auto title loans. These loans allow consumers — and a significant number of small businesses — to borrow amounts that range from $200 up to $5,000 and

The Payday Lending Industry and CFPB Overreach

The payday lending industry is increasingly gaining support from some surprising sources in its campaign against CFPB overreach and the agency’s purported plans to regulate payday lending out of business. The Consumer Financial Protection Bureau, which was established in 2010 to protect consumers from predatory lending practices, was originally expected to limit payday lending severely

Federal Regulators Begin Reign of Terror on the Payday Lending Industry

With the Consumer Financial Protection Bureau, or CFPB, gearing up to enact its reign of terror on payday lenders, some companies are digging in their heels while others are bailing out. The agency spent more than four years completing studies and listening to industry experts to decide what regulations to put in place. Change is

Explosive Credit Growth Forestalls Chinese Economic Collapse

To fortify its tenuous economic pickup, China’s local governments recently embarked on a new cycle of debt financing. While this step may be effective in the interim, industry experts point out that the rest of the world should consider it a revelation regarding China’s actual financial stability. The country’s explosive credit growth is supporting its

The Future of the Installment Loan Industry – Will Federal Regulation Kill It?

A year ago, the Consumer Financial Protection Bureau, or CFPB, took steps toward regulating the temporary loan industry. Ed Groshans, a financial specialist for Height Securities, said, “The CFPB made it extraordinarily clear that the path they’re going down is intended to eliminate the vast majority of payday lending.” The agency’s recent proposals will surely

Congress Continues Efforts to Reign in Consumer Financial Protection Bureau

Congress has discovered that the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 that created the Consumer Financial Protection Bureau or CFPB is fatally flawed and dangerous to traditional banking interests, politicians and lenders. The Huffington Post reports that the bureau has become everybody’s favorite target for reform or abolishment. These stakeholders include

Does the Consumer Financial Protection Bureau Actually Protect?

Does the Consumer Financial Protection Bureau Actually Protect? Initiated by Senator Elizabeth Warren and designed as a response to the financial crisis and the recent recession, the Consumer Financial Protection Bureau, or CFPB, is meant to stop deceptive, fraudulent and unfair business practices. According to the agency, it will accomplish this by “collecting complaints and
Time Warner

$16 million cable bill quickly reversed by Time Warner

Computerized billing systems are advertised as a way to make life easier. A $16 million cable bill is the latest in a long string of accidental overcharges that call that into question. While Time Warner has already reversed the bill, the incident reveals the danger of putting your finances on autopilot. The $16 million cable
Your small business is ready for its start. A small loan can help get it off the ground. (Photo:

All a Start-Up Business Needs is a Small Loan

Money: That’s What You Need When anybody decides to start a business, whether large or small, they must factor in the issue of cash. Without money, a business won’t succeed, let alone lift a few inches from the ground. It isn’t surprising that three-quarters of start-up businesses close within the first year. Many people are

Rockmelt | The perhaps too socially connected browser

The browser market is packed full, but Chromium-based Rockmelt is the newest browser to enter testing. Rockmelt stores your browsing preferences online, so you can load them anywhere. Rockmelt uses your Facebook login, however, which may be questionable, given the security issues surrounding the site. Rockmelt with Chromium base Rockmelt is a browser backed by
Close-up of a hand holding a cell phone.

Big banks debut clearXchange mobile payments service

Bank of America, JPMorgan Chase and Wells Fargo have banded together to challenge PayPal for online payment service superiority, reports the Associated Press. A new mobile payments service called clearXchange now makes it easier for consumers to make person-to-person payments via a mobile number or email address. The trio of U.S. banking giants anticipates that
Nighttime photo of the St. Louis skyline.

St. Louis BOOST Loan helps businesses buy real estate

Most businesses need a location in order to operate, which means purchasing real estate is necessary. Numerous programs exist to help businesses obtain funding to buy land on which to build or lease, and in St. Louis, Mo., one such program is the St. Louis BOOST loan program. A BOOST loan gives the borrower a

Vision Airlines | US Government flies Russian spies in style

During the US-Russia spy swap this morning, the U.S. was represented not by a military plane, but by Vision Airlines. A private charter company out of Las Vegas, Vision Airlines usually transports vacationers. Some are questioning the use of a private charter company for government business. Vision Airlines swaps spies In a moment that looked
Image from

Kick Unemployment to the Curb with a Killer Cover Letter

5 Tips for Writing a Great Cover Letter I hate to say it, but if you are trying to get a job right now, you are up against stiff competition. Although the economy has shown signs of improvement, unemployment is stable at best and in many states increasing. It is definitely an employer’s market out

iTunes announcement | Will tomorrow mark a move to the cloud?

On Tuesday morning, an iTunes announcement will be made. This web-only announcement is a departure for Apple, which usually holds a large press event for new products. There is a lot of speculation about the iTunes announcement, including the possibility of a move to the cloud. iTunes announcement on Tuesday The iTunes store began showing
Royal caribbean cruise

Passengers aboard Brilliance of the Seas horrified by big storm

The Brilliance of the Seas, a Royal Carribean cruise ship, was caught in a surprise storm off the coast of Egypt over the weekend. Heavy seas and high winds damaged the ship and injured 30 passengers. The entire Middle East was battered by the storm, which sunk a cargo ship and forced Israeli airports and
A poster depicting a cartoon monster crushing the words "peer review."

FTC cracking down on Astroturfing in Apple App Store

Apple has a good thing going with the App Store, the place for iPod Touch, iPhone and iPad applications. Various financial estimates place Apple’s annual profit at more than $400 million, and some consider that estimate to be conservative. But apparently that money has done little to motivate Steve Jobs and company to make the