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Are High Interest Installment Loans any Better than Payday Loans?

Increased state and federal regulations are forcing many short-term loan lenders to switch their business tactics. Instead of offering traditional payday loans, these lenders are transitioning into providing installment loans. Are high interest installment loans better than payday loans? The answer to this question comes down to the consumer and his or her needs. What

If not for Payday Loans, Would Loan Sharks Fill the Void?

The term “loan shark” was coined in America during the latter half of the 19th century, according to an article published in the Washington and Lee Law Review. The epithet was applied to lenders offering salary advances and chattel mortgages, which were types of loans that become prominent around the time of the Civil War.

Does the Payday Loan Industry Qualify as Predatory Lending?

Critics of payday loans frequently call the industry’s lending practices “predatory.” Since there is no universal legal definition of predatory lending, it is necessary to review what financial experts consider predatory practices. Only then will it be possible to decide whether the payday loan industry is guilty of predatory lending practices. What Qualifies as Predatory

Google Kills Advertising for the Payday Lending Industry

Taking the payday loan industry by surprise, Google announced that it intends to kill advertising for short-term loan lenders. While making this announcement, the Internet company accused the industry of using harmful and deceptive business practices. Google could have a greater impact on payday loan lenders than government agencies since many of these loans begin

Payday Loans Online: A Convenience — or a Trap?

The Internet can be a wonderful tool that allows users to accomplish many tasks without ever leaving home. They can view weekly ads for local grocery stores, check their bank balance, communicate with family members, conduct research for a term paper or handle many other chores that were once possible only in person or over

China’s Pending Lehman Moment Will Collapse World Markets

With billions of dollars taking their leave of the country, China could be facing a Lehman moment. If this happens, world markets may collapse. The global stock markets recently entered panic mode when shares plummeted in Europe and Asia for the second day in a row. This situation sparked fears that the global economy may

Payday Loans — Like Them or Not, They are Needed by Millions

In recent years, the payday loan industry has been receiving a great deal of attention from legislators at the federal and state levels as well as from consumer “watchdog” agencies. Politicians and agency heads have decried payday loans as “usurious” and “debt traps,” accusing cash advance lenders of “preying” on vulnerable consumers. However, whether politicians

Why George Soros is Short the S&P – and Long Gold

George Soros, the billionaire investor and philanthropist, is betting against the Standard and Poor 500 index due to his fear of another global financial crisis. During the first quarter of 2016, Soros sold 37 percent of his S&P stocks. Market Watch reported that he transferred these funds to gold and stocks for gold producers. Soros’

Installment Loans – Ugly, but Necessary

When traditional lenders decided to put the kibosh on approving funds for people with imperfect credit histories, they forced those in need of emergency cash to look elsewhere for money. Because of this, installment loans are ugly but necessary. People Use Installment Loans When Borrowing Options are Slim Payday loan lending got its start in

Further Bloodletting in Store For the Shale Oil Industry

In 2014, shale oil emerged in America and Canada as an ideal substitute to foreign crude oil. By 2015, the reduced demand for shale oil greatly weakened OPEC. Unfortunately, the massive supply glut in the oil industry has kept energy prices low. While these low prices have diminished the influence of OPEC, companies in the

What Happens when Japan’s Debt Monolith Implodes

Depending on who is in charge of the numbers, Japan’s national debt ranges from 230 percent to 250 percent of its gross domestic product or GDP. To compare, the United States is around 105 percent, so Japan’s numbers are significant. If Japan’s debt monolith implodes, it could have far-reaching consequences. Japan Avoids a Debt Implosion

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

End Onerous Payday Loan Regulations – It’s Supposed to be a Free Market

With the creation of a new federal agency designed to oversee the protection of consumers, economic experts are beginning to consider whether more government oversight is needed. The country may function better by allowing the free market to be free. To this end, it’s time to stop payday loan restrictions now. The Advantages of a

Ominous Omens Build for a Stock Market Crash

Stock market crashes destabilize economies and make investors leery. When they happen, a recessionary period marked by slow economic growth usually follows. Because the markets face continuous exposure to risk, it’s tough to predict crashes. They are also impossible to avoid. In the past, stock market crashes have sent industry experts and investors searching for

Why the Cash Advance Industry Should Be Regulated

Federal regulations on the financial industry were few prior to the 20th century. However, in recent years, the government has become increasingly aggressive in regulating the financial industry. Federal efforts became even more intense following the financial crisis of 2008, which was described by the New York Times as “avoidable.” Excessive risk-taking, lacking of government

The Pension Funding Crisis Has Begun

Recent fiscal reports combined with current economic conditions show that the pension crisis has begun. The crisis is occurring at the state, federal and corporate level, and it is happening across America. According to industry experts, the financial catastrophe is hitting now because of a disparity between pension commitments and the funds set aside to