Posts Tagged ‘law’
Payday Loans by State
As the “quick cash” loan industry continues to fall under fire to both local and national legal scrutiny many are wondering where these types of loans are still allowed and to what degree. Below is a quick list as of May 2010, which outlines some of the requirements by state for cash advance or payday loan types and allowances.
Redefine Predatory Lending
It seems as if all Payday Loan companies and sites have been labeled as Predatory Lenders regardless of business practices.
New Credit Card Law, Same old failing system
Consider a sub-prime credit card that now comes with a 59.9 percent interest rate. The lenders serving risky borrowers say high fees and interest rates are necessary because their customers are more likely to default on loans. Restrictions on what they charge could put them out of business, and leave the neediest with no options at all, they say.
Payday Loans Strong In Ohio
The General Assembly, left and right wing alike allow payday lenders to continue business as normal. *Gasp* 391 percent… shocking. Get a grip. I find it funny that legislators are still trying to pull the proverbial wool over the general public’s eyes with these large percentage numbers. These numbers are less than what you pay for overdrawing your checking account.
