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 [...]
Manitoba’s Judgment of Payday Loans Ignores Reason, Commerce
A Reasonable Argument, Rebuffed With Extreme Prejudice
Governments both large and small often take it upon themselves to decide what consumers should or shouldn’t be able to do with their own money. Call this the “nanny state” mentality if you will. Regardless, it seems that a population is somewhat less than [...]
On Larry King, Carrie Prejean Video Shows Her Character
First Amendment reminder
Carrie Prejean, who is famous for several semi-scandalous things I’ll list off later, appeared on “Larry King Live” last night. During the brief interview, she showed the world that she is a naive, condescending prima donna. Of course, I could be just another member of the “liberal media” [...]
Shots Fired on Ohio’s Payday Loan Battleground
Irresistible Force, Meet Immovable Object
The battle for payday loans in Ohio has been a difficult one for consumers. The recession hit the Ohio workforce harder than most, and the need for emergency short term loans is greater than ever before. Yet the state legislature in their infinite wisdom decided that [...]
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 [...]
Short Term Credit and Controlling One’s Financial Affairs
It’s Hardly Predator vs. Prey
If media and banking industry critics of payday lending are to be believed, payday loan outlets are perched in the reeds, muscles coiled in anticipation of springing upon unsuspecting consumers. “Predatory lending” is the fallback term such misinformed critics use, under the assumption that people who [...]
CashNetUSA.com | Get the Facts Before You Apply
Doing Your Due Diligence
Before you apply for a payday loan, installment loan or other form of short term loan, it pays for a consumer to do their research on www.cashnetusa.com. That way, you know where your loan is coming from and where your assets are going when it comes time [...]
Ontario Payday Loan Restrictions Coming into Force
But Nanny State Leanings Make it All Ridiculous
When it comes to short-term consumer lending, few products are as quick and convenient as a payday loan. The bulk of payday loan companies in Canada operate within the bounds of established governmental guidelines into order to provide consumers with a safe, affordable [...]
Payday Loans and Tax Rebates: How Consumers Handle Shocks
Educated Consumers Use Payday Loans During the Recession
There currently exists no definitive study of how payday loans are used. Researchers from both sides of the aisle (pro and anti-payday loan interests) are working on it, however. For now, there are studies like “What Do High-Interest Borrowers Do With Their Tax [...]
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 [...]
Payday Lending Catching On at Credit Unions
Give the people what they want
Payday lending has been consistently bashed by banks and credit unions that have been eager to capitalize on a legitimate market where there is real demand. The overriding desire has been to get people away from small loans and lock them into longer-term (read: longer [...]
‘Pawn Stars’ Brings Reality TV to History Channel
Will ‘Pawn Stars’ bring in big bucks?
Well, it was bound to happen eventually. The History Channel is starting its own reality series, “Pawn Stars.” So the History Channel is hoping to make money on a show about making money.
The show will feature three generations of “Pawn Stars,” a father, son, [...]
Obama Press Conference | Iran, Healthcare and Stimulus II
The gloves almost came off
President Obama has a lot of things on his plate these days, what with an economy in shambles, multiple wars being fought and post-election rioting and death in Iran. What did he have to save in today’s press conference? Helene Cooper and Sheryl Gay Stolberg live [...]
Fast Cash for Best Friends
The Dog and Larry are Best Friends
The Dog and Larry have jobs down at the shop. The Dog works like a dog, making his rounds in the tall grass behind the shop. He’s not sure what kind of work Larry does. But it’s the kind of work where Larry sometimes [...]
Kentucky Committee Passes New Payday Loan Policies
Kentucky adds database, 10-year freeze
A Senate committee in Kentucky passed a bill Friday that requires the state to keep a database documenting all outstanding payday loans. The database will help enforce a policy already in place that says individuals are not allowed to have more than two outstanding payday loans [...]
Illinois AFL-CIO Endorses Payday Loan Reform Advocate
Candidate has record with payday lenders
John Fritchey, candidate in the Illinois 5th Congressional District race, got an endorsement from the AFL-CIO today. The organization cited his voting record regarding payday loan reform and other financial legislation among its reasons for endorsing him.
Obvious answer for skeptics
Fritchey in the past has voted [...]
Payday Loans Lending may be Abolished in Ohio
The Big Dilemma in Ohio!
The fight to limit interest rates on payday loans will be on the ballot in Ohio. Opponents say that payday loans trap borrowers into a cycle of debt, stating that the interest rates are to high.
What the Opponents of the Payday Loan Industry Want
Opponents of [...]
Find Yourself a Credible Source, Daily Star or a Cash Advance
The battle over Arizona’s Proposition 200
Also known as the Cash Advance Reform Act, rages on. Here is a quick video explaining proposition 200.
In a “benevolent” gesture, reporter Shelley Shelton serves up a steaming pile in today’s Arizona Daily Star article “Ad watch: Prop. 200 and payday loans.” Their stated [...]
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