Cash Advance Tips
Cash Advance loans in many ways are no different than a traditional bank loan that you would receive at your local financial institution. The terms are usually less strict, but come at a higher rate which is what you get for the convenience of instant cash.
Cash Advance Pilot Program Fails
Cash Advance Loan consumers would appear to be a mystery to the FDIC and President Obama himself. In 2008 a two-year pilot program was created by the Obama administration and the FDIC to combat the so-called predatory lending of the cash advance industry. After roughly 11 months the pilot program is showing minimal usage by the standard consumer and the cash advance industry continues to grow. Basic problem being recognized is that these consumers to not want the strings that come with these “more legitimate” loans.
Payday Loan, Is a Better Solution Coming?
The fight continues, as legislative sessions come around yet again in California advocates are pushing to regulate the payday loan industry. Met with the standard opposition of the lobbyists making the age old statements in regards to the payday advance industry being the last resort available to low income families that need fast cash in times of emergencies.
Payday Loans in Kentucky
Payday loans in Kentucky appear to be at the mercy of Gov. Steve Beshear, who is pushing to have a cap placed on the payday loan industries currently “outlandish interest rates”. Earlier this year a freeze was placed on the ability to open any new Payday Loan facilities in the state of Kentucky.
