Payday Loans: The Right Cost for the Right Product

Payday Loans Becoming More Popular
Payday loans are a fast, discreet means for consumers to obtain short-term credit in an emergency. Their popularity has increased significantly over the past decade, which may easily be attributable to credit-challenged borrowers’ need. Yet there are dogged parties (particularly banks and associated special interest groups [...]

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Friday, January 2nd, 2009 by
Steven Tarlow

FDIC Bank Overdraft Study Proves Payday Loans Are Better

Critics of payday loans frequently site that the annual percentage rate (APR) for such short-term micro loans is rather high, typically reaching figures in the neighborhood of 391 percent.

Even though APR is not entirely compatible with payday loans (which are often two-week loans, making full-year interest rates immaterial), lets assume [...]

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FDIC
Friday, December 5th, 2008 by
Steven Tarlow