Installment loan lenders thrive where payday lenders used to
Many states have tried to eliminate payday loan lenders, but it hasn’t eliminated the need for credit from non-bank sources. Some states have new installment loans stores where payday loan stores once existed as other forms of short term credit fill the void.
Virginians frequenting pawn shops and title lenders more
Many states have passed laws intended to closely regulate, if not outright eliminate, payday loan lending. However, such laws don’t eliminate the need or demand for a short term credit product. The state of Virginia passed laws several years ago capping the interest rate on payday loans, which has reduced use [...]
Thursday, June 16th, 2011 by By Peter Stone
Services like PayNearMe for unbanked consumers expanding
Services for unbanked consumers, such as PayNearMe kiosks, are expanding to offer financial services for people without bank accounts.
Friday, May 13th, 2011 by By Peter Stone
Payday Loans: Going Where the Need is Greatest
In a recent Federal Reserve study, Robin Prager discovered that the connection between credit-challenged areas and payday loan stores is very real.
Tuesday, November 3rd, 2009 by By Steve Tarlow
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