Minnesota Cracks Down On Unlicensed Internet Payday Lenders
Some payday lenders are charging Minnesota customers big fees for small cash loans Unlicensed payday lenders located in other states are cashing in on Minnesota consumers. As Minnesotans struggle...
View ArticleLaw Tightens Rules on Payday, Auto Title Loans
Payday lenders are coming under the microscope Last week new laws aimed at curbing predatory lending took effect in Texas, meaning payday and auto title loan businesses will have to be licensed by the...
View ArticleCourt Blocks Colorado AG from Investigating Tribes’ Payday Loans
Court rules in favor of tribes operating online payday loans According to a court ruling this week, the Colorado Attorney General’s office can no longer investigate two American Indian tribes offering...
View ArticleGovernor Lynch Comes To the Rescue of Would-Be Borrowers
Loan veto protects consumers Once again Governor Lynch has come to the rescue of New Hampshire consumers. On Jan. 27, 2012, he vetoed Senate Bill 160, which would create a new small loan product we...
View ArticleFederal Trade Commission Seeks To Shut Down Tribes Payday Business
The tribes argue that they are exempt from government oversight The Federal Trade Commission is seeking to shut down an online payday lending operation that involves two Oklahoma Indian tribes after...
View ArticleGood Riddance to the Tax Refund Loan
Refund anticipation loans, as they are called, have been risk-free business for most of the past decade. Tax season is upon us in full force. There is a mountain of receipts on the kitchen table,...
View ArticleSan Jose and Santa Clara County City Leaders Push For Curbs
South Bay officials are moving to crack down on payday lending in the coming weeks In a meeting Wednesday night, San Jose’s planning commission will consider a proposal to bar payday lenders from...
View ArticleSan Jose City Council Votes To Cap Payday Lenders
San Jose takes tough steps to control number of payday lenders The San Jose City Council voted Tuesday to cap the number of payday lenders that critics liken to loan sharks who trap low-earning workers...
View ArticleRhode Island Payday Bill Goes Nowhere
Attempt to restrict interest rates fails Legislation in Rhode Island to restrict the interest rates that payday lenders can charge may be dead for the year. Supporters of the legislation say a...
View ArticleFederal Government Cracks Down on Bank “Payday Loans”
While legislation restricting traditional storefront payday lenders seems to have stalled in the courts for the time being, the FDIC and the Office of the Comptroller of the Currency are expected to...
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