New Proposals to Rein in Payday Loans Show Why Unscrupulous Corporations …

New Proposals to Rein in Payday Loans Show Why Unscrupulous Corporations …

It describes her experience with so-called payday loans, i.e., short-term, high-interest loans designed to help people with a financial emergency who are between paychecks. Ms. Robideau needed to repair her car and borrowed $ 800. When it came due, she …

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Front & Center: Closing credit's revolving door

It sounds so easy. Crisis arises, but your wallet's full of cobwebs. Solution? Visit a payday lender. Yet, the commercials conveniently ignore the steep interest rates that can soar as high as 650 percent annually for lump-sum loans. Now the Consumer …

Read more on Orlando Sentinel

'Payday' loan plan protects borrower

The proposals follow a 2013 financial protection agency analysis of payday lending. For an average $ 392 loan that lasts slightly more than two weeks, borrowers were paying in fees the equivalent of a 339 percent annual interest rate, according to the …

Read more on Northwest Arkansas News

New legislation cracks down on payday loans

You see them everywhere you go. Up and down the streets in America, they tend to pop up all over the place — payday loan businesses. With outrageous interest rates up to 700 percent, many people are caught in a relentless circle of debt, paying off …

Read more on News-Press Now

Fig offers an alternative to payday and pawnshop loans

A: We're starting with $ 300 loans. The difference between us and a traditional small-dollar loan is we do it over an installment period, so we give out a loan for four months and our interest rates are designed so the loan is paid off over that time …

Read more on Philly.com

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