A payday loan, also referred to as a payroll loan, a salary loan, a payday advance, a short-term or cash advance loan, or a small dollar loan, is basically what it says on the tin. It’s intended to be short-term, it tends to be rather small, and it is unsecured thus you do not need to … [Read more...]
Payday Loan Lenders Watch Out, CFPB is After You
After talking the tough talk on the payday loan industry, the Consumer Finance Protection Bureau (CFPB) is now walking the tough walk after it released a series of rules for the sector. CFPB director Richard Cordray is scheduled to outline a proposed regulatory framework Thursday … [Read more...]
Troubled payday loan industry trapping borrowers: CFPB report
A payday loan, otherwise known as a cash advance, was initially designed to cover an unforeseen expense such as a medical emergency, rent or a car loan payment. The payday loan industry has been marred with controversy as well as vitriol from both the government and citizens. A new … [Read more...]
Texas outsources toll collecting to payday loan service ACE Cash Express
At a time when payday lending has dominated the headlines for the Texas gubernatorial race, a new report came out that found the Camino Real Regional Mobility Authority (CRRMA) will be working with ACE Cash Express to collect tolls for the new César Chávez Border Highway toll road … [Read more...]
CFSA Poll: 80% of Payday Loan Borrowers Say Debt is Easy to Repay
Whether it’s a media exaggeration or the government trying to find a problem, a recent poll found that payday loan borrowers are quite satisfied with the terms of the lender. Many respondents also felt that using a payday loan establishment should be their choice and not the federal, … [Read more...]
‘FTC Negotiates Access to Consumers’ Bank Accounts with Payday Loan Lenders
All states in the US are taking strict actions against payday lenders after receiving numerous complaints from the consumers about these companies over the years. The consumer groups and civil rights activists have pulled in the support of the federal bank regulators i.e. the Federal … [Read more...]
Different Types of Cash Loans
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Not all financial emergencies can be anticipated in advance and many times the only way out of them is to obtain cash loans. Several types of cash loans are available to meet the financial needs of both credit worthy and bad credit borrowers. Here’s a list of the common types of cash … [Read more...]
Cash America a Payday Loan Company Forced to Refund Over $13 Million to Customers
Cash America will be giving about 14,000 of its customers in Ohio refunds totaling an estimated $13.4 million after customers sued them, but now admits it made significant mistakes in its own legal documents. Cash America is the largest operator of pawn shops in the United States and … [Read more...]
