Highway sign welcoming drivers to Arkansas, “The Natural State.”

Arkansas cracks down on online payday lenders, consumer choice

Payday lending has been outlawed in Arkansas since 2009, but that hasn’t stopped some consumers in need from looking to online payday loans funded from outside the state. Unfortunately, freedom of choice isn’t viewed kindly by Arkansas Attorney General Dustin McDaniel, reports the Arkansas News. McDaniel’s office obtained court orders barring two online payday lenders
Close-up of a man's hand signing a legal settlement.

Online payday loan company settles with W.Va. consumers

Payday cash loan portals provide a segment of the public with a useful short-term credit resource, but not everyone supports the terms of such online payday loan products. For online payday loan companies, lending to credit-impaired individuals involves a significant amount of risk that many would argue justify a certain fee level. However, the state
One of Cottonwood Financial LTD's The Cash Store locations. A Wisconsin appeals court has said personal loans contracts cannot prevent customers from their right to file or join class action lawsuits.

Cash Store cannot bar class action suits, says Wisconsin court

A Wisconsin appeals court has ruled that the Cash Store cannot use language in its loan contracts that bars customers from the right to be able to file or join class action lawsuits, reports the Associated Press. Such verbiage has often been found in the fine print of contracts that Cottonwood Financial LTD (parent company
Gavel on bench

Report claims payday loan cases clog Utah courts

A recent study indicates that payday loan cases are clogging the courts in Utah, particularly in the city of Provo. But payday lenders say the report is biased and misleading. 80 percent of all small claims cases The Coalition of Religious Communities reports that payday loan cases made up 80 percent of all small claims
A law stamped “Unconstitutional” in large letters.

Illinois payday lender sues, calling reforms unconstitutional

Beginning March 21, Illinois consumers may not have the option to choose installment loans for their emergency short term credit needs. At least one payday lender in the state is not taking what it calls unconstitutional changes lying down, reports Crain’s Chicago Business. Illinois Lending Corp., which operates six Chicago-area payday loans outlets, has filed

Jackson Hewitt sues H&R Block over short term loan ads

Tax preparation giant H&R Block is being sued by Jackson-Hewitt over an ad campaign blasting the short term loan program offered by Jackson Hewitt. Both companies offer some form of a refund anticipation loan or a loan against an income tax return. Tax season is when both companies make the bulk of their revenue. H&R