When you need cash quickly and do not have the necessary balance to receive a good private loan, you may think about alternative credit products. These are things like payday loans, auto title loans, and pawnbroker loans. Neither of these products are particularly good, and it is best to useRead More →
Nebraska voters who vote for the general election by November 3 will decide the fate of a proposal that would limit the amount of money “payday lenders” could ask borrowers. The voting question, known as Initiative Measure 428, would amend state law to limit the amount that state-licensed cash advanceRead More →
Diving letter: The Consumer Financial Protection Bureau (CFPB) on Tuesday REMOVED the “ability to repay” provisions from a 2017 payday loan rule that never went into effect but is the source for a protracted legal battle. The rules would have limited the number of consecutive short-term loans a borrower couldRead More →
The Tennessee Attorney General’s Consumer Affairs Division has revealed the top 10 complaint categories for 2020. DCA received 4,053 complaints in 2020 and received services and funds back for Tennessee through working with consumers and businesses. Overall, the number of consumer complaints decreased slightly in 2020 compared to 2019, whenRead More →
On June 2, 2020, the CFPB and a Tennessee-based payday and installment lender agreed a Consent order for alleged violations of the Consumer Financial Protection Act of 2010 (CFPA), the Truth in Lending Act (TILA) and Regulation Z under TILA. The lender operates over 150 stores in eight states, includingRead More →
EVERY year, millions of Americans in need of a short-term loan to fix a car, fly to a sick relative’s bedside quickly, or make up for childcare payments, go to payday lender rentals online or through one of the thousands of Payday Lenders of shop windows. These are not peopleRead More →
Heidi says she took out a payday loan in 2010 and then forgot about it. Now she’s getting calls from someone claiming to be a lawyer who threatens to take her to court unless she pays $ 250 straight away and makes extra payments every two weeks. Heidi wants toRead More →
Nine years after Ohio lawmakers and voters approved restrictions on payday loan fees for short-term loans, those fees are now the highest in the country. Ohio’s 2008 Payday Loan Act was ineffective. The question now is whether the legislature is ready to deal with it. Lenders avoided the law’s 28Read More →
Payday loans were legal in Arizona from 2000 to 2010 Legislators, including Michele Reagan, discussed extending it during the 2010 legislature Reagan said they looked% 27t% 22 like a rip off,% 22 and that they were cheaper than writing a bad check Terry Goddard turned down payday loan renewals andRead More →
To update: The Indiana Senate narrowly passed a measure Tuesday that would allow payday and subprime lenders to charge small loan interest rates at levels currently classified as a felony. The Senate 26-23 voted in favor of Senate Bill 613. The bill is backed by payday and installment loan businesses,Read More →