Bills affecting education, prisons and payday loans are some of the key issues the pending as the Legislature reaches its spring break. Lawmakers can also expect to vote on the General Fund budget again because Gov. Robert Bentley has announced he will veto it. The House and Senate return on… Read more“Education, prisons, payday loans still on Legislature’s plate”
Payday loans. Sketchy micro-financing that skirts the border of ethics and relies on entrapping the poor and desperate in a seemingly endless cycle of interest and repayment in order to thrive.
With the US Consumer Financial Protection Bureau expected to issue new rules that would curb at least some of what consumer advocates call excessive fees and interest rate charges by payday loan firms, the payday industry is branching out into other, longer loan-term areas for revenue. Industry insiders call the… Read more“Payday Loan Firms Are Extending Deals And Cleaning Up On Fees”
Just two weeks ago in this column we wrote about some debt collectors who bend rules or break laws. Last week, the Federal Trade Commission warned that some collectors are trying to capitalize on bogus payday loans. A payday loan is a cash advance given to a consumer. The consumer… Read more“Risk usually outweighs reward with payday loans”
With a lagging economy pushing more Albertans to depend on payday loans, the provincial government pledged to crack down on the industry in Tuesday’s speech from the throne.
LA MESA (KUSI) – La Mesa police are seeking two suspects inan attempted robbery at a Payday Loans in the area of 70th and University. A county sheriffs helicopter assisted police in their search, but both suspects are still at-large. One suspect is described as a white male, wearing a… Read more“La Mesa police seeking 2 suspects in attempted Payday Loans robbery”
Debbie Wasserman Schultz, chair of the Democratic National Committee, speaks before the Democratic presidential primary debate held at Saint Anselm College in Manchester, New Hampshire, December 19, 2015. Schultz supports a bill to limit the actions of the Consumer Financial Protection Bureau. (Photo: Richard Perry / The New York Times)… Read more“Democrats Join Republicans to Block Consumer Protections for Payday Loans”
Weakening or even better, shutting down the Consumer Financial Protection Bureau has been high on Republicans to-do list since the agency was created as part of the financial reform law passed in 2010. The law was a response to the mortgage meltdown that nearly plunged the world into a second… Read more“Lawmakers are fighting efforts to rein in predatory lending. Why?”
EDMONTON — Albertas NDP government says it plans to introduce a bill to crack down on payday loan companies. An Act to End Predatory Lending would protect vulnerable people from paying exploitative interest rates on payday loans and spiralling into poverty, Service Alberta Minister Stephanie McLean said Wednesday. Albertans, more… Read more“Payday Loans Bill Will Crack Down On ‘Predatory Lending’ In Alberta”
Its also in the numbers that payday loans have the potential to be debt traps. The issue has come before the Legislature numerous times over the years, with little being done to change the way the loans are issued and how the fees are charged. This year doesnt seem to… Read more“OUR VIEW: Time for change on payday loans”