How Payday Loan Regulation are Fueling the Rise of Loan Sharks in England

The number of borrowers who are approaching loan sharks for emergency money is on the rise in England due to stricter regulations on payday loan lenders. According to the Consumer Finance Association, or CFA, which is an organization that represents the country’s short-term lenders, recent restrictions against the industry have decreased people’s access to these

CFPB Report Hits Payday Loan Industry Hard

When the Consumer Financial Protection Bureau, or CFPB, began considering regulations for the short-term loan industry, the agency started the process by doing its homework. Recently, the CFPB released its findings, which hit the payday loan industry hard. During a press conference, Richard Cordray, the agency’s director, said, “We promise to consider this data further

Stop Payday Loan Restrictions Now — Let the Free Market be Free

In recent years, the payday loan industry has come under increasing scrutiny and criticism. Terms such as “predatory” and “abusive” have been hurled by opponents of payday lenders to describe these companies’ lending practices. Defenders of the payday loan industry feel that the government is overstepping its powers by attempting to regulate the free market.

Online Payday and Installment Lenders Face Ominous Risks

Online payday and installment loan lenders face ominous risks. Heavy regulation, prosecution and too many delinquent accounts are just a few of the perils confronting the industry. Payday Loan Industry Faces Onerous Regulation Burdens According to CNN, about 12 million Americans take out short-term loans each year. The success of the business and its reputation

What Brexit Means for the European Economy

By June 23, 2016, British voters will choose to stay within the European Union, or EU, or leave the system. Investopedia confirms that this action is what’s known as a Brexit. For years, the country’s citizens have been doubtful about the benefits of being a part of the EU, which is a political and economic

The Global Debt Bubble Hurls Towards Complete Collapse

Less than 10 years ago, the global economy descended into the Great Recession making it the most extensive slump since the notorious Great Depression. After the market fell during 2008, recovery has occurred, but it’s been a long, slow process with plenty of jolts along the way. Despite the bruises, the global economy is looking

Do Payday Loans Help or Hurt Those Without Credit?

As of April 2015, 29 percent of the respondents to a poll conducted by Bankrate stated that they had no savings to cover unexpected expenses. When asked whether they could cover a medical or repair bill of $500 to $1,000, only 38 percent stated that they could pay the bill with funds from a bank

Gold as a Means of Wealth Preservation

When the economy becomes unstable, those who have built up their wealth should look for ways to preserve it. One of the easiest ways to preserve wealth is by investing in gold. Throughout history, paper money systems tend to go by the wayside while gold is the only currency in the world that remains in

Crowdfunding for Startups Sees Explosive Growth

New startups have always struggled to secure financing, but the mounting number of Kickstarter successes are showing the business world that raising funds with small donations from a large number of people is surprisingly effective. Business News Daily reports that more small businesses and startups are turning to crowd source funding. In fact, a number

Federal Regulators Begin Reign of Terror on the Payday Lending Industry

With the Consumer Financial Protection Bureau, or CFPB, gearing up to enact its reign of terror on payday lenders, some companies are digging in their heels while others are bailing out. The agency spent more than four years completing studies and listening to industry experts to decide what regulations to put in place. Change is

Explosive Credit Growth Forestalls Chinese Economic Collapse

To fortify its tenuous economic pickup, China’s local governments recently embarked on a new cycle of debt financing. While this step may be effective in the interim, industry experts point out that the rest of the world should consider it a revelation regarding China’s actual financial stability. The country’s explosive credit growth is supporting its

The Future of the Installment Loan Industry – Will Federal Regulation Kill It?

A year ago, the Consumer Financial Protection Bureau, or CFPB, took steps toward regulating the temporary loan industry. Ed Groshans, a financial specialist for Height Securities, said, “The CFPB made it extraordinarily clear that the path they’re going down is intended to eliminate the vast majority of payday lending.” The agency’s recent proposals will surely

Congress Continues Efforts to Reign in Consumer Financial Protection Bureau

Congress has discovered that the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 that created the Consumer Financial Protection Bureau or CFPB is fatally flawed and dangerous to traditional banking interests, politicians and lenders. The Huffington Post reports that the bureau has become everybody’s favorite target for reform or abolishment. These stakeholders include

Does the Consumer Financial Protection Bureau Actually Protect?

Does the Consumer Financial Protection Bureau Actually Protect? Initiated by Senator Elizabeth Warren and designed as a response to the financial crisis and the recent recession, the Consumer Financial Protection Bureau, or CFPB, is meant to stop deceptive, fraudulent and unfair business practices. According to the agency, it will accomplish this by “collecting complaints and

Calls to Regulate Cash Advance Industry Continue

Calls to regulate the cash advance industry seem to focus primarily on rollovers and a borrower’s ability to repay a loan. When repayment in full of a loan does not occur before the end of the term, a borrower needs an extension or renewal that initiates a new transaction. The industry can impose limits on

Commodities Rebound on Dollar Decline

A weakened U.S. dollar inspired a recent rebound in commodities. Speculation that this year’s global growth won’t be strong enough for the Federal Reserve to raise interest rates was another factor that fueled commodity growth. These stocks saw widespread increases with gains that ranged from gold to copper. A few weeks ago, oil reached new

Gold Looks Set for Continued Rally

Since gold is frequently the investment choice for those who are too cautious to invest in regular stocks or other assets, the price of it often holds steady. This year, the commodity rallied. According to some analysts, gold’s recent rally could continue. The Recent Rise Gold rose steadily during this year’s economic melancholy. Estimates show