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,

Italy Could Bring the Euro to Its Knees

The European Union has faced numerous challenges over the last decade. The financial crisis in Greece has been expensive, requiring substantial loans and concessions in an effort to stabilize that nation’s economy. Unemployment rates in countries such as Spain have topped 25 percent, growth is stagnant and many member nations are dealing with a rapidly

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

Smartest Investors in the World Aghast at Post-Brexit Market Rally

Financial markets are always unpredictable–that’s why investing is risky. Every winning investment usually involves someone losing money, and predictions about major trends and events—such as Britain’s exit from the EU–are rarely incorrect. However, the timing is more difficult to pinpoint, but timing is everything in financial markets. That’s why day trading has become so popular

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 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

The 72 Billion Dollar Payday Loan Racket in Puerto Rico – With Taxpayer Backing

With a debt bill totaling around $72 billion, Puerto Rico is a U.S. territory that is clearly in financial trouble. Did Wall Street play a role in creating the island’s debt crisis? It certainly seems so. The ReFund America Project reports that the financial sector is responsible for setting up a $72 billion payday loan

Installment Loans — A Valid Alternative to Credit Cards

In an ideal world, people’s income would always greatly exceed their expenses, leaving them with a substantial savings account to handle any emergency expenditures. In real life, however, most Americans do not have savings that are sufficient to handle an unexpected financial crisis. If the refrigerator must be replaced, someone falls ill or the family

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. reveals that the report, which was published before the CFPB released its long-awaited guidelines on June

Fed President Loretta Mester – Next Step in Monetary Policy Is Helicopter Money

The President of the Federal Reserve Bank of Cleveland, Loretta Mester, recently joined a parade of Fed officials who have endorsed the concept of “helicopter money” as a possible solution to the prospect of a severe economic downturn worldwide. reported that Mester, speaking in Australia before the Federal Open Market Committee (FOMC), opened the

Why do 62 People Own Half of Planet Earth?

Six years ago, no one could have imagined that only 62 people would now hold the bulk of the world’s wealth. At the time, that title was shared by 388 individuals. In the wake of the global recession, between 2010 and 2015 the staggering gap in wealth and poverty has ballooned at an alarming rate.

What More Payday Loan Stores than McDonald’s and Starbucks Franchises Says about the Economy

A sweep of current headlines on the state of the economy portrays positive signs: robust house sales, steady unemployment rates and rising personal income. However, analysis of the payday lending industry paints a very different picture of the economic conditions of middle-class America. Despite restrictions on cash advance practice in almost one-third of the nation’s

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

Clinton’s Campaign Threatened by Economic Anxiety

George Gallup began conducting polls to measure public opinion in 1935, and there are few Americans who have never heard of the Gallup Poll. The company has been conducting regular polls to measure the level of confidence Americans have in the nation’s economy, and the results show that the majority of the respondents are pessimistic

Trump Riding Populist Sentiment with Promise to Bring Back American Jobs

Populism has been one of the most versatile political positions for more than 2,000 years. In simple terms, it holds the view that the common citizens are suffering from exploitation, mistreatment or abuse meted out by an elite group. The elites are viewed as using immoral or illegal methods to trample on the values, rights

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

Globalism and the Growth of Income Disparity

Globalism refers to connectedness and communication networks that span continents and bring the world’s people closer together, and globalization refers to how globalism increases or decreases. Digital technology has increased globalism, global marketing and business opportunities, but this growth doesn’t mean that everyone gets a share of the wealth. There has been a growing gap