PAYDAY LOANS

Payday Advance Check Cashing Neon Sign
EHStock via Getty Images
MONEY
5 Things That Waste Money You Should Warn Your Kids About
By Geoff Williams
By the time your child gets a job, they should know to avoid these traps.
Supported by Relay
DOWNTOWN, TORONTO, ONTARIO, CANADA - 2015/08/23: People walking in front of a Money Mart store in Toronto. National Money Mart Company, commonly known as Money Mart, is a Canadian financial services company that provides payday loans, cheque cashing, tax preparation and money transfer services to the underbanked. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
Roberto Machado Noa via Getty Images
POLITICS
Prestige Predators: Private Equity Cashes In On Payday Lending
By Zach Carter
In 2017, poverty is big business.
UNITED STATES - MARCH 23: Sen. David Perdue, R-Ga., listens to cousin, Sonny Perdue, nominee for Secretary of Agriculture, testify during his Senate Agriculture Committee confirmation hearing in Russell Building, March 23, 2017. (Photo By Tom Williams/CQ Roll Call)
Tom Williams via Getty Images
POLITICS
GOP Senator's Push To Let Debit-Card Companies Rip People Off Fails
By Ben Walsh
The measure "would have been a travesty" for consumers, an advocate said.
POLITICS
Bipartisan Coalition in a Deep Red State Takes on Financial Industry and Wins
By Sarah Anderson, Contributor
Sarah Anderson directs the Global Economy Project and co-edits...
Payday lenders give customers short-term cash advances, typically for two weeks, against their paycheck or Social Security
LONDON, ENGLAND - OCTOBER 03: A man walks out of a payday loan store in Dalston on October 3, 2013 in London, England. Payday loan stores are to face tougher regulations after moves proposed by the Financial Conduct Authority (FCA) call on more responsible lending. (Photo by Dan Kitwood/Getty Images)
Photo by Dan Kitwood/Getty Images
POLITICS
Hundreds Of Suspiciously Similar Letters Praise The Payday Loan Industry Ahead Of Crackdown
By Ben Walsh
But it's unclear who's behind them.
LATINO VOICES
Don't Be Fooled: Payday Lenders Do Target Communities of Color
By UnidosUS, Contributor
The largest national Latino civil rights and advocacy organiza...
If the product was working correctly, people would take out a loan and pay it back within the loan timeframe, which is typically
BUSINESS
Alternative Lenders Offer Opportunity For Consumers and Businesses Alike
By Javier Palomarez, Contributor
USHCC President & CEO
The Consumer Financial Protection Bureau's (CFPB) proposed rule on short term credit unveiled last month has spurred much debate. While the Bureau says it wants to protect consumers, I'm concerned that the rule will have the exact opposite impact, eliminating credit for millions of Americans and making many worse off. What's more, minority communities who are unbanked or underbanked will be disproportionally impacted.
LATINO VOICES
NCLR Action Fund Calls For Stronger Anti-Payday Regulations
By UnidosUS Action Fund, Contributor
Working to empower the Latino community nationwide.
We know that payday lenders are predatory, disproportionately choosing to set up shop in communities of color. We know that Latinos are more likely than the general population to use a payday loan.
BUSINESS
Strong Rules on Payday Lending Could Help Small Businesses
By Amanda Ballantyne, Contributor
National Director, Main Street Alliance
In this time of partisan gridlock, it's rare to see a federal policy move than can be of real help to small businesses and
POLITICS
The Banking Fight We Can Win Right Now
By George Goehl, Contributor
George Goehl is co-executive director of People's Action and P...
There's a big banking fight in front of us right now. It's a fight that could result in a huge win for families and a death knell for the predatory practices of an entire industry -- payday lending.
A barber shop stands between two short-term loan stores in Birmingham, Alabama, U.S., on Tuesday, Feb. 10, 2015. In Alabama, the sixth-poorest state, with one of the highest concentrations of lenders, advocates are trying to curb payday and title loans, a confrontation that clergy cast as God versus greed. They have been stymied by an industry that metamorphoses to escape regulation, showers lawmakers with donations, packs hearings with lobbyists and has even fought a common database meant to enforce a $500 limit in loans. Photographer: Gary Tramontina/Bloomberg via Getty Images
Bloomberg via Getty Images
POLITICS
New Payday-Loan Rules Won’t Stop Predatory Lenders
A borrower taking out a $500 loan could still pay over 300 percent in annual interest, despite new rules designed to crack
Neon signs illuminate a payday loan business in Phoenix on Tuesday, April 6, 2010, one of 650 operating in the state with some open 24-hours a day. A growing backlash against payday lending practices have prompted legislatures around the country to crack down on the businesses. (AP Photo/Ross D. Franklin)
ASSOCIATED PRESS
BUSINESS
The Obama Administration Cracks Down On Payday Lenders
By Ben Walsh
It will get harder to trap people in unaffordable debt.
TECH
How LendUp is working to dismantle Payday Lending
By Jotaka Eaddy, Contributor
Vice President; Policy, Strategic Engagement, and Impact at Le...
Yes, we charge high interest rates for first-time customers So why don't the banks step up and offer services to this majority
DENVER
A Predatory Lender's Empty Threats
By Jason Salzman, Contributor
Former Media Critic, Rocky Mountain News
"This is one of those issues where you almost have to hold your nose and still vote for it, because if you don't, the branches
Ads for payday loans will be banned, but organic results won't be.
Shane Ferro/Google
BUSINESS
Google Won't Do Business With Predatory Lenders Anymore
By Shane Ferro
It's about to get a little harder to find a loan with 1,000 percent interest.
BUSINESS
Payday Loans: The Worst Abuse Is Not Regulated
By Jack Guttentag, Contributor
Professor of Finance Emeritus at the Wharton School of the Uni...
The internet is a cost-effective way of identifying and soliciting potential clients for payday loans. Potentially, it could also be a way to regulate the worst abuse of payday lending.
BUSINESS
New Borrow And Save Loan Programs
By MoneyTips 832, Contributor
Contributor
It is too early to tell whether the long-term goal will be met -- that those who established savings accounts will maintain
John Fetterman, the mayor of Braddock, Pa., addresses a crowd while announcing his candidacy for the U.S. Senate, Monday, Sept. 14, 2015, in Braddock. (AP Photo/Keith Srakocic)
Keith Srakocic/Associated Press
POLITICS
Insurgent Democratic Candidate Ups Ante In Call For Debbie Wasserman Schultz To Resign
By Michael McAuliff
Pennsylvania Senate candidate John Fetterman accused the DNC chair of colluding with payday lenders.
POLITICS
Time for These Two Democrats to Go
By Bill Moyers, Contributor
Managing Editor, Moyers & Company
There are two Democrats whose resignation from office right now would do their party and country a service.
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