Payday Loan News for 03/07/2007



Trade group cites study, defending payday loans - Cherry Hill Courier Post

Trade group cites study, defending payday loans
Cherry Hill Courier Post, NJ - Mar 4, 2007
A new report issued by staff of the Federal Reserve Bank of New York concludes that payday lending is not predatory, according to Darrin Anderson, .
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What does a payday loan do? It helps you bridge your cash flow .
This is where lenders offering payday loans come in handy. These short-term loans are the proverbial friends-in-need for the vast blue collar majority of this country. Of course, the best thing to do is to try and not get into a ...

Payday Loan Loophole, Contact Lens Fluid Recall, Ford Pick-up . - NBC 4.com

Payday Loan Loophole, Contact Lens Fluid Recall, Ford Pick-up .
NBC 4.com, DC - 18 hours ago
From 340-percent to 24-percent, DC hopes to close a loophole in payday loans. Liz Crenshaw has the details. CompUSA is closing half its stores nationwide .
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Loans To Avoid At All Costs - CBS News

Loans To Avoid At All Costs
CBS News, NY - Mar 6, 2007
The most heart-wrenching stories Ramsey hears about predatory lending usually concern these payday loans. They typically cause big trouble for those who do .
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Payday industry changes image - DetNews.com

Payday industry changes image
DetNews.com, MI - 10 hours ago
COLUMBIA, SC -- Soft music plays in the background of a new TV ad campaign as it urges viewers to only use payday loans for emergencies. .
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States high court rebuffs challenge to payday loans
A unanimous rejection to a challenge of state law that allows payday loans of more than 300 percent says courts are not the venue for resolving...

Curbing payday loans - The State

Curbing payday loans
The State, SC - Mar 3, 2007
Limit companies to one payday loan per customer at a time. Current law effectively allows companies to lend up to $600 to customers by allowing two loans at .
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Alternatives to Payday Loans
If it ever comes to the situation where you have to borrow money to eat, don't get a payday loan. There are always other options. Learn about the alternatives to payday loans. Channel: Money Tags: payday loans money debt money problems ...

Bill would OK payday loans - Gainesville Times

Bill would OK payday loans
Gainesville Times, GA - Mar 4, 2007
The Georgia House of Representatives' Banks and Banking Committee this week approved a bill that, if passed, would repeal a state-wide ban on payday loans. .
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Feel-good ads won't mask payday loans' costs, risks - Sun-Sentinel.com

Feel-good ads won't mask payday loans' costs, risks
Sun-Sentinel.com, FL - Mar 5, 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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Payday lenders react to lawmaker pressure - Inside Bay Area


Washington Post
Payday lenders react to lawmaker pressure
Inside Bay Area, CA - 2 hours ago
COLUMBIA, SC EUR Soft music plays in the background of a new TV ad campaign as it urges viewers to only use payday loans for emergencies. .
Payday industry puts forward changes; consumer advocates wary Remote Access
all 114 news articles
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Im Not Big On Taking On My Own
voiced his opposition to the notion that the interest on payday loans should be expressed in terms of annual percent interest. Ehrhart argues that payday loans are short term loans and it is disingenuous to annualize the interest paid ...

Legislation introduced to reduce interest on payday loans (FOX 10 Mobile)
MONTGOMERY, Ala. A state senator says a bill he introduced in the Alabama Senate Tuesday would substantially reduce the interest customers pay when they take out payday...

Critics Say Reform Bill on Payday Loans Falls Short (RedNova)
By Lesley Mitchell, The Salt Lake Tribune Mar. 3--This was supposed to be the year that consumer advocates were going to persuade the Legislature to clean up the payday loan industry. Instead, only one of several reform measures was approved...

Nixon Hopes to Restrict Payday Loans
JEFFERSON CITY - Payday loan companies might find doing business in Missouri a little tougher, if a bill in the Senate and the House passes. Last year Missouri residents borrowed more than $750 million from payday lenders...

Legislation introduced to reduce interest on payday loans - Columbus Ledger-Enquirer

Legislation introduced to reduce interest on payday loans
Columbus Ledger-Enquirer, GA - 19 hours ago
In 2003, the Legislature passed a law legalizing payday loans and allowing the businesses to charge 17.5 percent per transaction. But Sen. .
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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. ...

States high court rebuffs challenge to payday loans (The Des Moines Register)
A unanimous rejection to a challenge of state law that allows payday loans of more than 300 percent says courts are not the venue for resolving...

Payday Loans Attract Interest
Afterward, the courts ruled that payday loans had been subject to the terms of the Small Loan Act up until the time that the new legislation passed. I know one policy analyst who keeps up with these things who had speculated that the ...

High court rejects challenge to payday lending law (WOI-TV Des Moines)
DES MOINES, Iowa The Iowa Supreme Court has rejected a challenge to a state law that allows payday loans with annual interest rates over 300 percent...

State's high court rebuffs challenge to payday loans - DesMoinesRegister.com


KCRG
State's high court rebuffs challenge to payday loans
DesMoinesRegister.com, IA - Mar 6, 2007
The Iowa Supreme Court on Monday rejected a challenge to a state law that allows payday loans with annual interest rates of more than 300 percent, .
Payday Loan Ruling KWWL
High court rejects challenge to payday lending law WHO-TV
all 9 news articles
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Payday Loans: Paying Money to Borrow Money
Payday loans are typically given in cash and secured by the borrower's post-dated check that includes the original loan principal and accrued interest. The maturity date usually coincides with the borrower's next payday. ...

Avoiding Payday Loans
Another common problem that I encounter on a daily basis has to do with payday loans. While these may appear to be a quick and easy way to get money for rent, bills, credit cards, etc., the first loan is simply the start of a cycle ...

Payback Time for Payday Loans EUR Contest Winner
Thanks to everyone that participated in the Payday Loan Payback contest! Ive listed the two stories that were submitted below and have bolded some key points. Charles Rady Ive used one in FloridaEUR..right after hurricane EURCharleyEUR came ...

Payday lenders react to lawmaker pressure (Inside Bay Area)
COLUMBIA, S.C. EUR Soft music plays in the background of a new TV ad campaign as it urges viewers to only use payday loans for emergencies. One scene shows a broken-down car...

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...

Lawmakers take aim at payday loan industry (Houston Chronicle)
Soft music plays in the background of a new TV ad campaign as it urges viewers to use payday loans only for emergencies. One scene shows a broken-down car. Another depicts a boy in a doctor's office, his arm in a sling...

Payday loans under fire, despite changes (AP via Yahoo! News)
Soft music plays in the background of a new TV ad campaign as it urges viewers to only use payday loans for emergencies. One scene shows a broken-down car. Another depicts a young boy in a doctor's office, his arm in a sling...

Sandy draws up restrictions on new payday loan outlets (The Salt Lake Tribune)
SANDY - This southeast Salt Lake Valley suburb all but closed its borders to new payday loan stores Tuesday. The City Council voted 4-3 Tuesday night to restrict the number of "non-depository" financial institutions - those offering payday loans, check cashing, deferred-deposit advances or car-title loans - to one per 10,000 residents and require at least a mile between outlets. Sandy ...

Legislation introduced to reduce interest on payday loans (The Daily Comet)
A bill introduced in the Senate on Tuesday would put Alabama's payday loan businesses under the regulation of the state Small Loan Act and, according to a state senator, would substantially reduce the interest borrowers pay...



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