Payday Loan News for 09/12/2007

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Advocates worry about flood victims turning to payday loans (The Toledo Blade)
FINDLAY, Ohio EUR” Ohio consumer advocates are concerned that victims of last months floods may turn to payday loans to help them get by...

Advocates worry about flood victims turning to payday loans (Port Clinton News Herald)
FINDLAY EUR” Ohio consumer advocates are concerned that victims of last months floods may turn to payday loans to help them get by. Columbus attorney Paul Bellamy with the Equal Justice Foundation says the short-term loans come with fees that translate to triple-digit interest rates...

Lawmakers seek to cap payday loans at 36% (The Western Star)
After 10 years of explosive growth, the payday lending industry faces the prospect of tighter regulation as consumer groups and a handful of state lawmakers push for ways to protect borrowers...

Flood victims turning to payday loans? (The Cincinnati Enquirer)
Ohio consumer advocates are concerned that victims of last month's floods may turn to payday loans to help them get by...

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Easley moves to slow payday loans (The Greenville News)
Easley City Council on Monday took its first step toward containing the rapid growth of loan companies that specialize in payday loans, cash advances and title loans...

Payday loan issue looms for Staunton (News Leader)
STAUNTON EUR” City Council will consider a resolution requesting the General Assembly to enact laws that would cap interest rates for payday and other consumer loans made in the Commonwealth...

Advocates worry about flood victims turning to payday loans
FINDLAY, Ohio (AP) - Ohio consumer advocates are concerned that victims of last month's floods may turn to payday loans to help them get by. Columbus attorney Paul Bellamy with the Equal Justice Found...

City: Zero interest in payday loans (The Daily Progress)
City councilors are looking into ways to prevent new payday lending businesses from opening in Charlottesville and are hoping to expand educational campaigns about EURœpredatoryEUR lending practices...

Payday Loan Lobbyist Says Loans Are Regulated Enough (KELO Sioux Falls)
A lobbyist for South Dakota's payday loan industry says it's well-regulated..

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State may cap rates on loans (The Western Star)
Consumer advocates and some state lawmakers want to clamp down on Ohio's payday-lending industry. Ohio Rep. William Batchelder, R-Medina, said Thursday he plans to introduce a house bill regarding payday lending by the end of September...

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So what's the problem with payday loans? (News Leader)
Activists say the problem with payday loans is that many people cannot afford to pay the loan in full, forcing them to roll the debt over and pay additional fees. But an industry spokeswoman says these rollovers are illegal...

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