Montana Lawmakers Continue to Work on Payday Loan Laws
September 20, 2010 at 8:13 a.m.
In Helena, Montana, lawmakers are continuing, despite the obstacles and previous hurdles, to restrict payday lending to 36 percent interest rates. Of course, the payday loan industry has repeat argued that they cannot survive on that rate, based on the way these loans work.
read full postBrits Turn to Payday Loans
September 19, 2010 at 12:10 p.m.
In an economy much like ours in America, Great Britain is seeing a trend that many in the States have noticed: banks are not lending to their customers, forcing them to look to other means. This often means that payday loans, cash advances, and personal loan are the only option.
read full postNew Research on Payday Loan Trend
September 18, 2010 at 10:47 a.m.
A new public announcement was made by TheNewsStar.com, asking for those who have worked with the payday loan industry to help in a new study. Apparently, they are looking to research the new trend that borrowers are increasingly leaning on cash advances and other payday loans to make ends meet. This is what the announcement said:
read full postUtah Companies Under Heat
September 17, 2010 at 12:46 p.m.
In Utah, several companies are now under watch by the FTC (Federal Trade Commission) for skirting around laws set in place for cash advance and other loan services. Apparently, the FTC is concerned there are some illegal practices here to garnish consumer wages.
read full postNew Project Fights Payday Loans
September 16, 2010 at 12:45 p.m.
In an interesting new move against payday loan companies, one organization is no longer putting all their effort in regulating, legally, the payday loan industry. Rather, they are working out a way to compete with them. Here is the latest on that story:
read full postPayday Lenders Get Help from Big Banks
September 15, 2010 at 12:44 p.m.
As the economy works its way out of the recession, banks are still reluctant to help many small businesses and homeowners acquire loans. However, they have continued to help the payday loan industry, an industry that continues to do well in tough financial times.
read full postRegulations Increase Costs, Not Decrease
September 12, 2010 at 2:29 p.m.
As lawmakers across the country continue to attack the of payday loan industry, researchers have been looking into the effectiveness of lowering interest rates. Interestingly, it has been found that as the caps for interest rates drops, more money is being spent. It appears that the regulations are helping the industry or the consumer.
read full postLending Law on Ballots in Montana
September 11, 2010 at 9:11 a.m.
Montana lawmakers and those in the personal loan industry are currently debating the hot topic of payday loan interest rates. Voters will soon have the chance voice their opinions when, in November, the law goes on the ballots.
read full postPayday Loan Arguments Hit Home
September 10, 2010 at 10:28 a.m.
In Montana, new legislation is going to be on the ballots in November, allowing voters to decide whether or not the payday loan industry should be permitted to continue in the state. While the opponents of payday loan lending argue that 400% interest rates prey on the poor and uneducated, lenders argue that the rates are not that high if paid on time and that, without such lending, many wouldn’t be able to buy groceries or would be left homeless.
read full postPayday Loan Critics Face Proponents
September 9, 2010 at 2:27 p.m.
The payday loan industry has had to put up a fight over the past couple of years to make sure their voice is heard over the legislation to hurt the industry. As lawmakers work to keep interest rates down, payday loan companies argue that the interest rates are what they are because there is no other way to stay in business. The exorbitant rates that lawmakers quote are taken out of context, they say. The latest reports are coming from Montana:
read full postPayday Loans for Unemployed
September 8, 2010 at 2:26 p.m.
If you are unemployed and in need of a fast cash loan, you have probably realized that lenders aren’t too keen on the idea of lending to someone out of work. However, there is an option. You may look into a payday loan, though you will want to make sure you can pay it off quickly. Here is some information about that:
read full postPayday Loan Proponents Argue Their Case
September 6, 2010 at 11:53 a.m.
In an effort to block opponents’ attacks and attempts to put a new law restricting payday loans on the upcoming November ballot, those in favor of payday loans are putting up a fight. They argue now that the language written on the ballot is different than what citizens saw when they signed a petition regarding the matter months ago. The latest on the story as it unfolds:
read full postPraise Given to Mississippi Lawmakers
September 5, 2010 at 1:01 p.m.
Yesterday I reported on some developments in Jackson County, Mississippi where board members over a payday loan company were speaking out to protect the payday loan business. It appears, at least to this point, that lawmakers were swayed in favor of the payday loan companies and have rescinded earlier sanctions on the industry:
read full postPayday Loan Restrictions Under Consideration
September 4, 2010 at 8:54 a.m.
As the payday loan industry makes a push to fight against the fierce legislation that is hurting their fast cash businesses, individuals are speaking out against the problems these new laws incite. In Mississippi, the argument is that laws that restrict lending practices hurt both the consumers and the people who work for those companies. Here are some interesting developments:
read full postPolitics Involved in Payday Loan Laws
September 3, 2010 at 1:45 p.m.
A new report has broken out that a politician’s family benefited from recent laws designed to restrict the practice of lending payday loans . This report suggests that a son-in-law of a prominent politician was the beneficiary of laws voted in by his father-in-law. Here is part of the report:
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