When Long-Term Installment Loans Become Long-Term Problems

Regulatory action has caused a number of payday loan lenders to switch lending gears and offer long term installment loans. The change has come because loans with extended repayment terms have been largely ignored by policymakers. While this transition initially gave the appearance of making it more affordable for people to take out small dollar

Online Installment Loans May Soon Face Onerous Obstacles

Online installment loans may soon face onerous obstacles from the bureau and other regulatory agencies. Over the last year, U.S. policymakers turned their regulatory eye toward the online lending industry. The Consumer Financial Protection Bureau, or CFPB, has released a set of proposals that will affect lenders regardless of their processing platform. Because of this,

Bad Credit Installment Loans – A Bad Choice Isn’t the Only Choice

When people resort to bad credit installment loans, they often do so because they’re in a tough financial spot. While middle-class and wealthy consumers generally have access to several borrowing sources, those who are on the low side of the annual income scale are usually forced to borrow money from payday loan and installment loan

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,

Loans for People with Bad Credit — Are the High Interest Rates Justified?

One way that lenders can reduce their risks is to charge higher interest rates for loans to people with bad credit, but is this approach justified?Lenders have long known that there is a correlation between how borrowers have handled credit in the past and how they will handle it in the future. If the borrower’s

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

Fast Money Loans – The When, the Where, the Who and the How

Changes in the fast money loans industry are inevitable because of stricter regulations of the industry by the Consumer Financial Protection Bureau, or CFPB. Millions of Americans have come to rely on short-term money loans when they need immediate cash for unexpected expenses, holiday spending and to cover basic living expenses when cash-on-hand just doesn’t

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.

7 Awesome Options when You Need Cash Now – Without Borrowing!

You don’t always need to borrow money to cover emergency expenses. When people need cash now–regardless of why–many turn to payday loans, credit cards, auto title loans, second mortgages and loan products from banks and credit unions, but each of these fixes increases your total indebtedness and could trigger a downward spiral of debt. Taking

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