A small crowd of people braved the rain Thursday morning as they gathered outside the Cash Money store in Dartmouth to protest payday loans. The protest on Wyse Road was part of a larger event held across the country, in which the Canadian Union of Postal Workers and the Association… Read more“Demonstrators gather in Dartmouth to protest payday loans”
Concerned about predatory lenders, Broward County officials said theyll consider offering employees emergency loans with lower interest rates. Commissioners agreed to seek bids from loan providers who might want to team up with Broward County, offering emergency loans of up to $5,000 to employees, including those with poor credit ratings.
Borrowers in Texas and California searching for quick cash have a new option: a database of low-cost alternatives to high-interest payday loans. The database, built by NerdWallet and searchable by ZIP code, lists more than three dozen community organizations that provide financial assistance to borrowers in the form of small-dollar loans or… Read more“How you can beat the payday lending trap with low-cost alternatives”
Who are these organizations – and why should you trust them? NerdWallet has vetted the organizations listed in this database to ensure that they provide consumer-first services, either through low-interest loans or financial assistance. These local community centers and nonprofits serve people who need help with rent, transportation, paying utilities… Read more“The payday loan trap: don’t get caught”
A small experiment intended to draw borrowers to the site drew hundreds of clicks from Google each day from people looking for cheap payday loans. Lenders approached NerdWallet with an offer to pay it $60 in commission on a $200 loan, knowing that many borrowers end up repeatedly rolling their… Read more“NerdWallet tries to steer borrowers clear of payday loans”
A House committee approved a bill today to lower fees charged by payday lenders, an issue lawmakers have debated for years. The committee changed a bill passed by the Senate before giving it approval. One advocate for reform said the change jeopardizes the bill with just four days left in… Read more“Alabama House committee approves lighter version of payday loan reform”
The House of Representatives were scheduled Thursday to debate a bill that would eliminate exorbitant interest rates on payday loans. The bill went through a House Financial Services Committee on Wednesday, but drastically adjusted the originally proposed bill that would give borrowers up to six months to repay payday loans.
Pay2Day is a short-term loan provider with branches all over Ontario, including Bradford. They specialize in helping hardworking people get back on their feet through payday loans. These loans can make a huge difference in the lives of those who apply, as they allow the recipients to take care of… Read more“Hassle-free payday loans and more”
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Since 2005, Floridians have paid $2.5 billion in fees to payday lenders, despite state regulations laws, according to a newreport from the Center for Responsible Lending. A payday loan is a high-interest, low-dollar loan that is due on your next payday, says Delvin Davis, a senior research analyst at the… Read more“Payday loans have cost Floridians $2.5 billion in last decade, report finds”