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Online Payday Loans Run Afoul of State Regulators

Online payday loans have been subjected to a great deal of scrutiny in the last 10 years as well as scathing criticism. Because the federal government left the regulation of payday loans to each individual state, the applicable laws were based on the physical location where the lender made the loans. As certain states moved

Do Cash Loans for Your Small Business Justify the High Interest Rates?

If you operate a small business, you undoubtedly understand the concept of profit and loss. You know that when your expenses increase, your profits decrease. You strive to control your overhead and labor costs, negotiate with suppliers for the best prices and closely monitor expenses such as the interest rates you pay. However, there are

Installment Loans for Bad Credit Borrowers — CFPB Regulations May Soon Eliminate Them

The Consumer Financial Protection Bureau, commonly called the CFPB, is a federal agency that was created under the authority of the Dodd-Frank Act. The CFPB’s jurisdiction includes credit unions, debt collectors, banks, securities firms and even payday lenders. Since its inception, the CFPB has been especially critical of lenders offering credit products to subprime borrowers,

Online Cash Advance Availability May Soon be a Bygone Relic

Millions of borrowers have found that online cash advances can be an excellent option for dealing with unexpected expenses. Many borrowers cite the convenience of an online loan; the application can be handled from the comfort of the borrower’s home. Other borrowers appreciate the privacy afforded by an online cash advance; coworkers, neighbors or relatives

Online Payday Loan Regulations to Supersede State Laws

In June 2016, the Consumer Financial Protection Bureau published its proposed new regulations for online payday loans, certain installment loans and vehicle title loans. The new rules have sparked a great deal of debate on both sides of the issue. Some critics feel that the regulations are not stringent enough, but others believe that they

Don’t Let Fast Loans Turn into Fast Problems

Getting fast loans can quickly generate even faster problems for the unwary. Quick and easy cash loans, which can be a windfall for those who face an immediate need for cash, can also put borrowers into long-term debt, damage their credit scores and even make them susceptible to scams, hackers, thieves and predatory lending practices.

Google Still Showing Payday Loan Ads Despite Pledges to the Contrary

Payday loan advertising remains more resilient than critics ever expected according to a recent article posted at Austin360.com. The exposé found that Google, which supposedly banned payday loan ads during the summer of 2016, was continuing to run ads for payday loans as of October of 2016. Financial products are extremely complex, and loans come

Oh, the Irony – A Payday Loan Businessman Faces a Billion Dollar Fine

Nevada Chief Judge of the Las Vegas federal court, Gloria Navarro, fined racecar driver Scott Tucker and the payday loan companies that he owns $1.27 billion, which is to be paid to the Federal Trade Commission for deceiving payday loan customers. The report, which was posted online at Time.com, explained that the judgment applied to

New Regulations for Online Payday Loans Will Hurt the Poor, Not Help Them

The sweeping new regulations that the Consumer Financial Protection Bureau has proposed to regulate the payday lending industry could easily hurt poor and disenfranchised consumers more than help them. A report published at Tampabay.com concedes that even the industry’s critics admit that there are few alternatives for online payday loans for most working people who

Cash Advance Loans for Small Businesses Carry Steep Price

Critics of predatory lending practices recently turned their attention to business cash advance loans, which some people have characterized as “payday loans for business,” according to a report published at Time.com. These cash advances for business owners can put them in debt spirals that mirror payday lending cash loans. The Time.com report explained that 7

Will Payday Loans Be Effectively Outlawed?

Everyone hates payday loans – except for the millions of people who use them. Newsweek reports that the critics of payday loans include consumer advocates, policymakers, law professors and members of the clergy. Even the president of the United States has made disparaging remarks about the industry. So, will payday loans be effectively outlawed? It

Installment Loans Online – Plenty of Options, All with High Interest Rates

When installment loans online are applied for by borrowers, they have plenty of options, but all come with high interest rates. While payday and title loans get a lot of negative attention for charging borrowers high fees, another type of loan has been flying under the media radar, and it’s one with interest rates that

For Small Cash Loans, Lenders Find Time is Running Out

Lenders of small cash loans are rightly concerned that policy changes could put them out of the cash loan business. The Consumer Financial Protection Bureau, or CFPB, has released a set of proposals that could certainly do so, but before making a decision regarding what terms the lenders of cash loans are permitted to offer

Payday Loan Lenders Indicted While Wells Fargo Criminals Walk Free

The recent indictments and judgments against payday loan lenders and the apparent “pass” being given to the criminals at Wells Fargo show just how far from ideal the American judicial system is. Most people have seen depictions of Lady Justice, the blindfolded personification of the legal system. She holds a balance scale in one hand

Installment Loans for Bad Credit Borrowers Patronized by Regulators

In June 2016, the Consumer Financial Protection Bureau released its proposed regulations for installment loans for bad credit borrowers. Although most of the attention has focused on the new rules for payday loans, the CFPB is also proposing new regulations for most installment loans for those with bad credit with an annual percentage rate of

Online Payday Loans do More Harm Than Good, State Critics

In the United States, more than 10 million people annually choose to take out online payday loans or from storefronts. For many, access to a payday loan can mean the difference between keeping the utilities on, feeding their families or repairing the car they need to go to work. However, payday lenders have been facing

Bad Credit Installment Loans Gain Market Share

As more and more payday lenders have shifted to offering bad credit installment loans instead of or along with payday loans, the market share for installment loans has increased substantially. For the past 20 years, payday loans have been a popular choice for small-dollar loans, especially among those with bad credit. However, in June 2016,