News About the Ever-Changing Payday Advance Industry
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The interest rate cap that Congress recenly agreed on for military cash advances may be having a domino effec. Numerous states are now considering regulations on regular and faxless payday loans.
A recent editoral in The Idaho Statesman doesn't blame JUST payday loans for the record number of residesnt filing for bankruptcy. But it doesn't exactly defend these resources, either.
According to a report from Arizona Central, Tom Rawles told Mesa City Council Members he'd be voting "no" before a formal date was even set for a public hearing.
On Tuesday, consumer advocates urged legislators to limit high-interest, short-term cash loans to the same 36 percent annual interest rate cap that applies to other lenders in Virginia.
The federal government in Canada is planning legislation that will allow provinces to place a tighter grip on the burgeoning fast cash loan industry.
Officers arrested a 22-year-old transient Monday afternoon after she used a counterfeit pay stub in a failed attempt to acquire a $600 payday advance loan.
Janette Helmick is a member of the Virginia Interfaith Center for Public Policy. She recently wrote the following, paraphrased article for The Free Lancee-Star:
According to The Chronice Herald, it doesn't matter who does the math: The Cash Store and many other payday lending companies are charging interest rates that violate the Criminal Code of Canada.
Not surprisingly, The Center for Responsible Lending has issues a statement praising the recent Congressional agreement to limit rates on military payday loans.
As Advance America faces a lawsuit and growing criticism, it has responding by coming out with a new ad campaign for its products.