News About the Ever-Changing Payday Advance Industry
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Senate Bill 376 seemed relatively harmless … to the untrained eye. In reality, this was an attempt to erase existing protections that prevent the most vulnerable borrowers from falling prey to unending cycles of high-interest debt.
Stephen Winslow is a regular contributor to The Augusta Free Press. He recently wrote an article praising the paper for shedding light on the payday loan industry.
Eugene, Springfield and other cities in Oregon should follow the lead of the city of Portland in regulating payday loans, urges an editorial in the Eugene Register-Guard.
It hasn't been the best week for Advance America.
Gov. Bill Richardson isn't pleased. He says his administration will tackle what the Legislature declined to do during its just completed session: regulate payday lending.
Portland City Commissioners passed the first ordinance in the state this week to protect consumers from some of the lending practices of payday loan businesses. This comes on the heels of recent state legislature criticism on the matter.
Advance America posted strong revenue growth last year while also seeing its net income decline, according to the Spartanburg Herald-Journal.
Under pressure from federal regulators, First Bank of Delaware plans to end its involvement with with payday loans and cash advances.