China the Epicenter of a New Global Banking Crisis, BIS Warns

The Bank for International Settlements, or BIS, warns that China’s banking policies are likely to generate a new international banking crisis within the next three years. The BIS, which is the world’s largest bank, issued the warning despite finding that no immediate threat is likely according to a Reuters.com report. The risks are intensified by

If Payday Loans are Banished, Will Anything Better Replace Them?

One of the biggest questions that arises over the possibility that payday loans could be legislated out of business by the Consumer Financial Protection Bureau, or CFPB, concerns whether any comparable loans will replace these emergency, short-term loans. Consumers have come to depend on these loans, and most payday borrowers support the industry with high

Online Cash Advance Lenders Make a Mockery of Bans by States

A recent Washingtontimes.com article explored online lending and state bans of cash advance companies operating within their jurisdictions. The article mentioned that many of these lenders get around bans by ignoring state caps on interest rates and other regulations. Without storefront options, online cash advance lenders can still advertise extensively to deliver quick cash directly

Installment Loans Under Fire by the CFPB Regulatory Guns

The Consumer Financial Protection Bureau, which is usually referred to as the CFPB, has turned its attention to installment loans, after making a series of controversial pronouncements and recommendations for payday lending reform. The organization has consistently cut through traditional checks and balances to expedite financial reform in the wake of 2008’s mortgage and banking

How New Regulations Could Change the Payday Loan Industry Forever

The Consumer Financial Protection Bureau, or CFPB, has proposed drastic new guidelines that could change the payday loan industry forever. Key features of the guidelines include the following points: Full-Payment Test Customers must be investigated to see if they can afford to make the full payment as promised from a single paycheck. Lenders would also

When Banks Won’t Lend – Bad Credit Borrowers and Payday Loans

When banks won’t lend, bad credit borrowers often turn to payday loans. When borrowing money from a bank, many factors are considered before a traditional financial institution will issue a loan. These factors include the borrower’s annual income, credit history and debt-to-income ratio. If a loan applicant fails the bank’s lending criteria, then the would-be

The Ease of Getting a Cash Advance Online Carries a Stiff Price

With access to the internet, people are adapting to new ways to live. From ordering presents from Amazon for the holidays to paying bills online, the internet has made everyday life more convenient. This includes access to cash. Today, when money is tight, consumers can apply for extra funds online, but the ease of getting

Installment Loan Industry Thrives in Face of a Subprime Job Market

Proposed regulations are shaking up the short-term lending industry. Instead of selling borrowers payday and auto title loan products, many lenders are now in the business of installment loans. Reports show that over the last 20 years, this sector of the lending field has experienced major growth. In fact, the installment loan industry is thriving

Cash Advance Loans Targeted Toward People with Bad Credit

When unexpected financial emergencies materialize, most people struggle to find the extra money to cover them. For those with good or excellent credit, borrowing options are available, but if a money-based crisis happens to someone with a low credit score, the situation can be devastating. This is why cash advance loans are targeted toward people

Bad Credit No Obstacle for Obtaining Installment Loans

Unexpected expenses are a part of life, but when they crop up for people who have bad credit, the situation is grimmer than it is for those who have good or excellent credit ratings. This type of circumstance is worse for those with poor credit because these people are unable to turn to traditional financial

5 Ways to Escape the Payday Loan Debt Trap (Really)

Millions of Americans take out payday loans every year. In fact, about 12 million of them do so. Consumers who borrow funds from short-term loan lenders take out an average of $375, and they pay an estimated $520 in interest. People often become stuck in payday loans because of financial emergencies. For instance, a desperate

CFPB Forced to Admit Most Payday Loan Testimonies Positive

While frequently vilified by government agencies and consumers who don’t need their services, the payday loan industry serves as a financial lifeline for millions of Americans. According to a 2012 report released by the Pew Charitable Trusts, people borrow more than $7 billion from short-term lenders annually. Despite this, state legislators and the Consumer Financial

Central Bankers Trapped in a Mess of Their Own Making

In conjunction with their respective governments, central banks have been manipulating economies for decades. Central bankers have sought to control interest rates, inflation and credit through their policies. Their efforts have impacted the stock market, job creation, home construction and many more aspects of the economy. However, in recent years, central bankers have manipulated themselves

Payday Cash Loan Regulations Move into CFPB Review Stage

Payday Cash Loan Regulations Move into CFPB Review Stage For the past few years, criticism of the payday cash loan industry has been mounting. Opponents of payday loans have included celebrities, elected representatives and various consumer groups. However, since June 2, the topic has been extensively covered by national and local media, leading many to

6 Ways to Spot an Overpriced Stock Market (Hint – We Have All Six)

In an article posted in August 2016 on MarketWatch.com, columnist Mark Hulbert asserts that the United States stock market is currently more overvalued than at virtually any other peak during the last 100 years. This one fact counters the argument that the current valuation is because the market is at one of its highest points

Life in States without Easy Payday Loan Availability

 A decade or two ago, state legislators typically paid little attention to the issue of payday loans. However, after the financial collapse that occurred in 2007, the federal government created the Consumer Financial Protection Bureau, and the CFPB began to research payday lending almost as soon as the agency was formed. The CFPB generated a