Overdraft Fees Send Scores to Check Cashing, Payday Loans
Exorbitant Overdraft Fees Erase Funds of the Working Poor
In the 1960s and 1970s, many of America’s largest banks decided to go “where the money is” by pulling their branches out of the inner cities and focusing more on affluent areas. It may be sheer coincidence that infamous bank robber John [...]
Payday Loans and Bankruptcy in Canada: No Clear Correlation
Manitoba University Study Unintentionally Dispels Numerous Myths
Human Ecology professors Ruth Berry and Karen Duncan of the University of Manitoba appear to have been ready to point the accusing finger at payday loans in Canada. Given supporting data, it appears they would have been happy to report that payday loans and [...]
The Cost of Payday Loans: Not Excessive, Study Shows
Study of Detroit Area Households Yields Surprising Results
There are numerous entries in the volumes of study on payday loans which suggest that low- to middle-income (LMI) families are the most frequent users of the product. Where access to credit and liquid assets are limited – particularly in areas that are [...]
College Study Attempts to Link Payday Loans and Violence
Remember, Correlation Does Not Imply Causation
Have you ever heard that statement before – that “correlation does not imply causation?” What it means is that even if one can identify a correlation (strength and direction of a relationship between two random variables), it does not automatically imply that one causes the [...]
Payday Loans: Going Where the Need is Greatest
Fed Study Shows Payday Loan and Related Outlets Cluster
Payday loans are an inescapable landmark in America’s modern economic landscape. The popularity of the short term loan product has grown significantly since the early 1990s, and it’s no wonder. Giving consumers the ability to absorb financial shocks in the short term [...]
Nicolas Cage Broke? Not Really, He Just Owes People Money
How do you define broke?
All kinds of publications, from trashy tabloids to respected newspapers, are reporting that Nicolas Cage is broke. Maybe they are just using “broke” for space reasons, but I don’t think that’s the right word for what Nicolas Cage is.
Nicolas Cage was bilked out of millions by [...]
Vanderbilt/Oxford Study: Payday Loan Firm Profits Not Excessive
Profits are in Line With Traditional Lenders, Says Study
Infinite profits earned off the backs of the infinite suffering masses. If you take your news from the multi-colored, sugar-laden toothpaste tube that is the mainstream media, then you believe that the payday loan industry is reaping massive profits while those who [...]
Should Government Limit Bank Overdraft Fees?
Over-the-top overdraft fees
The Associated Press reports that some senior congressional Democrats want to draw up legislation that would limit how much banks can charge customers in overdraft fees. Personally, I have been slapped with $105 in overdraft charges before for transactions that equaled a lot less than that, so I [...]
Payday Loans Beat FDIC Small-Dollar Loans Hands Down
Payday Loans Profit With Lower Overhead
The payday loan industry continues to fulfill the needs of consumers, particularly during the tight times of the recession. On volume, payday lenders are able to make profits that allow them to continue to operate in the majority of states. Thus, the relationship between consumers [...]
NYU Study Questions Link between Payday Loans and Predation
Payday Loan Profits Don’t Automatically Equal Predatory Lending
Even if you’ve never been a customer of a payday loan business, you’ve likely seen or heard about the product. You probably also know that payday loan businesses are fairly easy to find in both the brick-and-mortar world and in cyberspace. With such [...]
First Gay Couple on “The Newlywed Game” | Warp Speed, Sulu!
Takei and Altman first gay couple on “The Newlywed Game”
Ever since “The Newlywed Game” debuted in prime time on ABC television back in 1967, the game show has prided itself on realistically depicting how marriage mates relate to one another. In asking all of those juicy “making whoopee” questions and [...]
Understanding the House Health Care Bill
Don’t jump to conclusions about HR 3200
There’s a lot of “news” floating around out there about House Resolution 3200. Unfortunately some of the discourse has devolved into scare tactics, misinterpretation and, in some cases, flat-out lies. Much like opponents of the people’s right to get a loan until payday call [...]
King of Pop Michael Jackson Dies of Heart Attack in Hospital
Jackson family with Michael at time of death
Michael Jackson had a heart attack today. Someone from his Los Angeles home called the police about 12:20 p.m. California time today. TMZ reported that a family member said Michael Jackson is “in really bad shape.” TMZ also said a reporter spoke to Michael’s dad, [...]
From Peace Garden State to Job State
North Dakota is recruiting workers from around the nation
North Dakota has emerged unscathed from the economic meltdown and is becoming a leader on the employment front. As if sharing the International Peace Garden with Canada weren’t generous enough, North Dakota is now actively promoting employment opportunities throughout the United States.
A [...]
New Credit-Card Law Could Backfire
New: Credit card interest will be subject to new rules
The contention surrounding cash advances from payday lenders begins to pale when compared to the money-making tactics of credit card companies. In an effort to prevent cash-strapped borrowers from falling into credit card traps, President Obama is transforming the way that [...]
Payday Loans and Credit Score: The Relationship Demystified
A brief introduction to the concept of ‘Credit Score’
Most forms of credit available today, with the exception of payday loans, are dependent on the credit rating of an individual. A credit score or a credit rating is essentially a statistical representation of the likelihood of an individual paying back the [...]
Autoworkers: Welcome to the $12-per-Hour World
Influx of renewable energy jobs brings huge pay cuts in Midwest
According to a recent article in Money magazine, massive investment in renewable energy could ultimately create 4 million manufacturing jobs in the Midwest. But for workers in the bottom rung of this movement, the shift to green jobs could very [...]
National Leave Work Early Day is TODAY, June 2
There’s a whole wide world out there
We work because we have to, we work because we look to contribute and develop our lives professionally. Sometimes, we even do it because we enjoy the professional comradeship. But when it comes down to it, everybody’s working for the weekend. This is a [...]
I Can’t Get Out of the Payday-Loan Trap
Borrowing between paycheck is a hard habit to break.
Job layoffs, plunging retirement accounts, home foreclosures — the ripples of the recession are affecting us all. Like many Americans, you may have a limited income and no savings. You may have been turned down for credit or own maxed-out credit [...]
Kevin Trudeau’s Books Deemed Fraud | Save Your Money
Kevin Trudeau’s ups and downs
You may have seen an infomercial for any number of Kevin Trudeau products. He has hawked several books, including “Natural Cures ‘They’ Don’t Want You to Know About.”
Kevin Trudeau’s books have made it onto the best-sellers list as consumers seeking help hit up payday lenders so [...]
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