Payday Loan News for 02/26/2007



Self-policing on payday loans draws skeptics (Kansas City Star)
Payday-lending officials say the industrys new self-regulatory plan, backed by a $10 million advertising campaign, is a good-faith effort to protect consumers...

PayDay Loans to Return to Georgia - Associated Content


Associated Content
PayDay Loans to Return to Georgia
Associated Content, CO - 5 hours ago
Three years ago Georgia state lawmakers decided that payday loans were more of a nuisance than a help to their citizens. These short-term loans designed to .
Payday loans could return to Georgia WALB-TV
'Payday loan' sites jump in decade in area, state Toledo Blade
Bill targets lenders Topeka Capital Journal (subscription)
all 4 news articles
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Industry group unveils rules to ease terms of payday loans - Minneapolis Star Tribune (subscription)

Industry group unveils rules to ease terms of payday loans
Minneapolis Star Tribune (subscription), MN - Feb 21, 2007
Payday loans have become big business, lending about $40 billion in 2003, according to the Federal Deposit Insurance Corp. Consumers use the services to .
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Payday Loans: Costly Cash (Washington Post)
The Community Financial Services Association of America, the national trade association for payday lenders, says its $10 million advertising campaign is intended to educate people on how to use payday loans wisely...

Payday Loans Making Comeback
ATLANTA (AP) -- A key legislative panel approved a proposal today to erase Georgia's ban on payday lending and replace it with a new system designed to regulate the short-term loans. A House Banks and Banking subcommittee voted 11-to-3 ...

Payday lending industry promises reforms (The Morning News)
WASHINGTON -- Facing pressure in half the states including Arkansas, payday lenders promised Wednesday to give customers extra time to pay off loans as they launched a nationwide advertising campaign...

Payday firms lengthen time allowed to pay off loans (Sun-Sentinel)
WASHINGTON · Under pressure from legislators and consumer groups, the payday lending industry on Wednesday announced changes to educate borrowers and help customers who have trouble making payments on short-term loans...

Online Payday Loans & Cash Advance
Payday loan and fast cash advance services available with no credit checking and no faxing. Apply online to get easy instant cash advance payday loan...

Payday loans may lead to debt trap - Advance Titan


Advance Titan
Payday loans may lead to debt trap
Advance Titan, WI - 3 hours ago
Courtney Lautenschlager, a customer service representative at Payday Loan Store in Oshkosh, said payday loans act as a safety net for people who find .
Payday Loans: Costly Cash Washington Post
Payday loans might return Florida Times-Union
There's No Such Thing As A Smart Payday Loan Hartford Courant
Denver Post - Kansas City Star
all 33 news articles
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More on Payday Loans: The Industry PR Folks Strike Back
Check out this article in today's Washington Post by Michelle Singletary - - "Payday Loans: Costly Cash." Among other things, the article discusses a new ad campaign by the Community Financial Payday Services Association of America, ...

Payday companies fill gap left by banks for small loans (BizJournals)
Strong demand has fueled robust growth in the payday loan industry...

Bad credit? No credit? Not a problem, say some lenders - The Union Leader

Bad credit? No credit? Not a problem, say some lenders
The Union Leader, NH - Feb 24, 2007
The report said payday loans and similar products create a cycle of debt instead of helping borrowers through a shortfall. "Predatory lending undermines .
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Facts show practices on payday loans fair - The Tennessean

Facts show practices on payday loans fair
The Tennessean, TN - Feb 23, 2007
. Detecting Predatory Lending," by New York Federal Reserve Board researcher Donald P. Morgan, noted the seemingly contradictory nature of payday loans. .
Tougher restrictions needed for protection on title loans The Tennessean
all 4 news articles
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Payday Loans
Payday Loans Are a Scourge, but Should Wrath Be Aimed at the Lenders? - New York Times: [T]he outrage currently directed at lenders who extend credit at extremely high rates of interest to economically disadvantaged groups. ...

Payday lenders respond to criticism with education effort - Providence Journal

Payday lenders respond to criticism with education effort
Providence Journal, RI - Feb 23, 2007
Payday loans are small loans that a borrower promises to repay out of his or her next paycheck, typically in two weeks. A $100 loan might carry a fee of $15 .
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Taking out payday loan not a sound financial move (Denver Post)
The Community Financial Services Association of America, the national trade association for payday lenders, is planning to spend $10 million for an advertising campaign that it says is intended to educate people on how to use payday loans wisely...

Industry group unveils rules to ease terms of payday loans (Minneapolis-St. Paul Star Tribune)
A group that represents about half of the payday loan stores in the United States will require members to give customers more time to repay their loans without additional fees or penalties. The Community Financial Services Association of America (CFSA), which represents 164 payday lending firms and 12,000 stores, hopes the repayment option, along with a $10 million education campaign, will help ...

Governor backs bill on payday loans - San Diego Union Tribune

Governor backs bill on payday loans
San Diego Union Tribune, CA - Feb 22, 2007
In most cases, payday lenders offer cash advances for a fee. Generally, the loans are short-term, until the next payday. When the loans are not repaid on .
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Payday loans may lead to debt trap (Advance Titan)
The end of the month approaches and, with it, come the bills. The combination of rent, cell phone bill, credit card payment and other expenses can start to become an overwhelming prospect for young people with little financial experience...

Predatory Payday Loans
Go to any military town or drive around depressed neighborhoods and you see them in the strip malls: payday loan companies. These predatory lenders capitalize on those with limited incomes by providing cash advances which are repaid ...

Comment on Windows Vista vs. OSX debate now up by Payday Loans
Payday Loans. nice blog!..

Payday loans might return (The Florida Times-Union)
ATLANTA - Consumer groups, prosecutors and many lawmakers thought they had shut the door for good...

battles everywhere over payday loans
Many consumer advocates say that is not enough and want a rate cap on payday loans, similar to the 36% annual rate cap that exists now in federal law for military personnel (and which Gov. Arnold Schwarzenegger endorsed this week for ...

Pitfalls of Payday Loans
Payday loans are marketed as a way to get fast cash to hold the borrower over until their next paycheck. But expect to repay much more than you get...

Lawmakers limit payday loans - Sioux Falls Argus Leader

Lawmakers limit payday loans
Sioux Falls Argus Leader, SD - Feb 22, 2007
Joni Cutler, R-Sioux Falls, caps the maximum principal amount of any payday loan, or the total outstanding principal balances of all payday loans made by a .
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CAPSULE COMMENTS : : Payday loans bill may rise again . . . - Tucson Citizen

CAPSULE COMMENTS : : Payday loans bill may rise again . . .
Tucson Citizen, AZ - Feb 23, 2007
But what sounds too good to be true really is, for McClure also would eliminate the sunset provision to eradicate payday lending in 2010. .
Payday loan changes fail in legislature Inside Tucson Business
all 2 news articles
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Comment on Why Pay $36.09 for Rancid Chicken? by Payday Loans
Payday LoansEURŠ nice blog!EURŠ..

Payday loans might return
ATLANTA - Consumer groups, prosecutors and many lawmakers thought they had shut the door for good...

Quick financial support - Payday loans Posted By : AngelaAlderton - Business Portal 24 (press release)

Quick financial support - Payday loans Posted By : AngelaAlderton
Business Portal 24 (press release), Germany - Feb 23, 2007
The person also has an option to apply payday loans through online mode. Online mode simplifies and quickens the process of applying for loan. .
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Payday loans could return to Georgia (WALB News 10)
Albany - - It's been the topic of legal controversy for years - businesses that offer high interest loans for people who need money in between paychecks. Georgia currently is the only state banning pay day loans. But now, state lawmakers are considering allowing these companies to return to Georgia...



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