Beware the Risks of Payday Internet Loans

The Consumer Financial Protection Bureau, or CFPB, is currently investigating a subsect of payday loan lending, one in which websites sell information to payday lenders online about borrowers who need a quick loan. This kind of service connects lenders and borrowers. The CFPB recently discovered that one website directed borrowers into illegal and bad payday
Couple applies for loans with bad credit

11 Ways to Get a Loan with Bad Credit (These Work Fast)

Bad credit loans are made by lending companies that accept borrowers who’ve had a few problems in the past. These include loan defaults, slow payments, missed payments and even bankruptcies. Credit scores play a big role in how lenders look at your loan application, and a low score could get your application denied. Fortunately, many

Cash Advance Industry Faces Hurdles from the Consumer Financial Protection Bureau

In June 2016, the Consumer Financial Protection Bureau (CFPB) proposed a multitude of severe lending regulations characterized as consumer protection from payday debt traps. Citing investigative data, the CFPB steadfastly argued that payday loans and cash advances lead to consumers becoming debt-ridden and that their proposed statutes would serve to protect consumers from the so-called
Experts debate the payday cash advance industry

Should the Payday Loan Industry be Allowed to Exist? Experts Weigh In.

In some circles, a payday cash advance is being proclaimed as one of the worst financialdecisions that any American can make. Critics cite the high interest rates charged, the prevalence of low-income borrowers and the tendency of many borrowers to renew their loans or obtain multiple loans as evidence that the payday lending industry should
Woman paying off pay day loan

7 Simple Ways to Repay a Payday Loan Fast (These Really Work)

A payday loan is often a valuable resource for people from all socioeconomic groups. Anyone can get behind and need some emergency cash, and there are multiple installment loans, online personal loans, pay day loans and other types of loans to help your family get the cash it needs. However, any payday loan can cause
working man pondering pay day loans

Pay Day Loans Users Punished by Same Banks who Bounce their Checks

When banks won’t lend, people with poor credit often turn to pay day loans. When borrowing money from a bank, many factors are considered before a traditional financial institution will issue a loan, online or off. These factors include the borrower’s annual income, credit history and debt-to-income ratio. If a loan consumer fails the bank’s
Single-mom-applies-for-payday-loans

If Payday Loans are Killed Off, what Takes their Place?

One of the biggest questions that arises over the possibility that payday loans could be legislated out of business by the Consumer Financial Protection Bureau, or CFPB, concerns whether any comparable loans will replace these emergency, short-term loans. Consumers have come to depend on these payday advance loans, and most internet loan borrowers support the
Installment loan street sign

Use of Installment Loans Skyrockets as Market Share Explodes

To keep their finger on the pulse of the financial well-being of everyday Americans, organizations like the Center for Financial Services Innovation, or CFSI, completes money-based studies and surveys. A recent assessment found that underserved American consumers paid an estimated $141 billion in interest and fees during 2015. These fees were generated from $1.6 trillion
Stores offering advance cash loans

Cash Advance Industry Looks Towards Trump for Regulatory Reprieve

The cash advance industry has been under fire for several years. Critics charge that the rates are excessive and that borrowers can become trapped in a cycle of debt. In June 2016, the Consumer Financial Protection Bureau released its proposed rules to regulate lenders how offer payday, title, personal installment and cash advance loans. The
quick payday loans application

Payday Loans: Targeted by the CFPB and Demonized by Clinton

A new study released by the Consumer Financial Protection Bureau, or CFPB, targets the beleaguered payday loans industry with yet another charge of malfeasance. Apparently, these lenders are trying too hard to collect their legal debts from borrowers. JDSupra.com reveals that the report, which was published before the CFPB released its long-awaited guidelines on June
Small Payday Loan Application

Why Payday Loans are Here to Stay

Despite intense publicity over the past few years, payday loans are here to stay regardless of the opposition of consumer groups and the Consumer Financial Protection Bureau. The agency was created by the Dodd-Frank Act to regulate the financial industry after the excesses of Wall Street and the banking industry led to the 2008 financial
Consumers seeking to borrow money online

How to Borrow Money Online without Getting Fleeced

A recent report at Mymoneyblog.com examined some of the issues that make trying to borrow money online risky for borrowers. The primary risk seems to come from consumers who misuse online loans or make bad borrowing decisions. Many online loans are of the payday-type–short-term loans that are meant to be repaid from the borrower’s next
Obtaining quick loans requires careful thought

Five Facts About Quick Loans That Will Make You Think Twice

Payday loans and other types of bad credit quick loans have been making the mainstream news recently. Much of the news has been generated by the Consumer Financial Protection Bureau, the agency born in the aftermath of the 2008 economic crisis. Since 2010, the CFPB has become increasingly aggressive in targeting lenders who offer quick
Man contemplates unsecured loans

The 7 Deadly Truths about Unsecured Loans

There are two basic types of debt: secured and unsecured loans. As the name implies, secured debts are secured by an asset that the lender can claim if you fail to repay the debt. If you take out a mortgage or finance a new car, you have incurred a secured loan. Should you fail to
Men shake hands on fast cash deal

The Critical Role of Fast Cash in the Consumer Marketplace

Access to all types of credit, including fast cash loans, is a vital part of the consumer marketplace. Credit is an important pillar of the American economy, and according to MarketRealist.com, it plays the most critical role in a healthy economy. Consumer credit is defined as all personal debt that is not related to housing.
Couple applying for a small loans package

The Role of Small Loans in Today’s Consumer Economy

Small loans are quickly gaining influence that extends beyond their percentage of the economy. Smaller online lenders increasingly employ cutting-edge digital tools to provide their customers with faster decisions, expanded access to lending associates and greater credit options. A healthy market for small loans can stimulate business, increase the Gross Domestic Product, or GDP, and