News About the Ever-Changing Payday Advance Industry
The Front Page
Steve Doherty of Montana is the former minority leader of the Montana Senate and co-chair of the Progressive States Network. Dan Geldon of Massachussetts is a former staff member for the U.S. Senate Judiciary Committee who has written…
Republican lawmakers filed a measure Wednesday that would repeal the landmark state law banning easy payday loan lending and replace it with a new system that regulates short-term lenders.
Payday Loans Not Predatory.
The Independent Mail puts it simply: the payday loan industry is evil, and South Carolina needs to ban it, just as neighbors have in North Carolina and Georgia.
Five years ago, Overland Park had two payday loan stores. Now there are 11, and city leaders don’t want more.
They advertise some loans at 120 percent annual interest, but may charge up to an astronomical 3,650 percent. The personal loans are available at locations every few blocks. Some consumer groups blast them as taking advantage of the unwary.
Jeff Albin is a regional manager (northern Arizona) at Quik Cash. Below is his paraphrased letter to the editor of The Arizona Republic:
New Hampshire has become the magnet in New England for short-term high-interest providers of no fax payday loans - and state lawmakers are becoming increasingly uneasy about it.