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 [...]
Study Makes Case, But Authors Discount Variables
Payday loans come in a variety of packages for consumers, and that includes those who are active members of the military. They’re called military loans in that instance, and they can be quite useful to military personnel who have had difficulty obtaining loans from [...]
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 [...]
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Short Term Loans Online
We are going to share a real life story of a family who avoided additional hardship after being taken advantage of by a bank, thanks to short term loans online. Of course we have to change the names of the people [...]
Go ahead, show us your true colors
That’s exactly what Rock Hill, South Carolina’s The Herald newspaper is doing when it comes to their payday loans reporting. Their staff opine that the recent bill that passed the S.C. House is “toothless” and does not protect consumers from supposedly “predatory” lenders. Of [...]
Only looking out for their bottom line?
Payday loans may be on their way out in New Hampshire, and while a new personal credit line product may step in to fill the gap for consumers who genuinely need the product, it may or may not receive approval from the FDIC. This [...]
Soon after the New Jersey legislature passed a tough law aimed at controlling predatory lending, State Sens. John Adler (D., Camden) and Gerald Cardinale (R., Bergen) teamed up to sponsor a bill that weakened it.
Your Payday Loans News Source Quoted With Edits From: Predatory lending is an issue in N.J. [...]
(AP:COLUMBUS, Ohio) Democratic candidates in two high-profile congressional races in Ohio are pointing fingers over the mortgage crisis.
Your Payday Loans News Source Quoted With Edits From: Ohio candidates focus on predatory lending (INO News)
The Blame Game
If you’re a Republican, the country’s problems are no doubt caused by the Democrats. If [...]
Congress will pass legislation next year that will make Wall Street financiers civilly liable for funding predatory and reckless mortgage loans, predicted Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee.
Your Instant Payday Loans News Source Quoted With Edits From: A bill to make Wall Street accountable for [...]
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If you saw 60 minutes last week you might have been just as surprised as I was to learn that Treasury Secretary Henry Paulson had ordered Bank of America and several other banks to take quick payday loans even though [...]
Three people, including a man officials call “the poster child of predatory lending” are indicted.
Your Cash Advance Loans News Source Quoted With Edits From: ‘Poster Child Of Predatory Lending’ Indicted (News Channel 5 Cleveland)
Cleveland’s Poster Child for Predatory Lending Doesn’t Measure Up
This article from Cleveland News Channel 5 hangs Mark [...]
(Updates with details, quotes from Dodd.) WASHINGTON -(Dow Jones)- Senate Banking Committee Chairman Christopher Dodd said Tuesday that he plans to unveil a legislative package including consumer protection measures pertaining to credit cards, predatory lending, bankruptcies and sub prime mortgages.
Your Instant Payday Loans News Source Quoted With Edits From: UPDATE: [...]
Federal bank regulators fought over turf with state agencies while America’s mortgage lending system grew increasingly unstable and then fell apart.
Your Online Cash Advance Source Quoted With Edits From: Mortgage system crumbled while regulators jousted (Seattle Post-Intelligencer)
The Mortgage Crisis. Who’s To Blame?
Everyone is up in arms and pointing fingers [...]
City Attorney Michael Aguirre filed a lawsuit against Washington Mutual, alleging that the bank engaged in unlawful subprime mortgage lending practices.
Quoted With Edits From: City Attorney Sues WaMu Over Lending Practices (KGTV San Diego)
The Fallout Continues
Predatory lending continues to sweep the countryside with San Diego California making the latest news. [...]
A Reno lawyer is seeking class-action status for several U.S. District Court lawsuits alleging predatory practices by major lenders that have left his clients facing foreclosures and threatened sales of their homes.
Quoted With Edits From: Lawsuits allege predatory lending practices (AP via Yahoo! Finance)
Predatory lending practices have really gained a [...]
Michigan homeowners could get relief from predatory lending
Quoted With Edits From: Michigan homeowners could get relief from predatory lending (WZZM 13 Grand Rapids)
Mortgages and Foreclosures
In recent times, foreclosures seem to be just as common as mortgage loans or taking out a cash advance. Foreclosures are so common because of the [...]
Bank of America said Monday it was ready to spend up to 8.4 billion dollars to restructure the loan portfolio of mortgage giant Countrywide following settlement of a lawsuit targeting the firm’s “predatory” lending practices.
Quoted With Edits From: Bank of America to spend up to 8.4 billion on Countrywide (AFP [...]
The Area Office on Aging of Northwestern Ohio and the TRIAD Council of Northwest Ohio will host senior safety workshops today and tomorrow. The workshops, which begin at 9 a.m. each day, coincide with the Ohio TRIAD conference and will be held at The Pinnacle, 1772 Indian Wood [...]
BOSTON — At the beginning of the decade, state Rep. John F. Quinn, D-Dartmouth, was fighting to draw attention to the burgeoning issue of predatory lending.
Quoted With Edits From: Dartmouth’s Quinn pushed through predatory lending crackdown in 2004 (The Standard-Times)
Preventing Predatory Lending
In 2004, Massachusetts Representative John Quinn pushed legislation to [...]