Payday Loan News in November 2010

  • Banks Overdraft Fees Higher Than Interest on Payday Loans

    A Daily Mail investigation has revealed that interest and charges levied after taking out an unauthorised overdraft from a high street bank could amount to the equivalent of an annual percentage rate (APR) of 46 million per cent.

  • Payday Loans in the UK will rise over Christmas

    The number of people in the UK taking out payday loans is on the increase according to a recent study. It is estimated that people borrowed £1.8bn so far in 2010 and this trend of taking loans is set to continue over the Christmas period.
  • Payday loan industry hopes state will loosen rules

    Madison - With Republicans about to take control of the Legislature and governor's office, payday loan stores and auto title lenders are looking to roll back limits recently placed on short-term loans.

  • Christmas holiday loans from the bank or from a payday lender?

    As tempting as it might be to hand over your debit card for presents and festive food to make Christmas as special as possible for your family and friends, the real cost could be shocking. Interest and charges levied on unauthorised overdrafts can be equivalent to an APR of more than 46 million per cent, a Money Mail investigation reveals.
  • Canadian payday lenders pay penalties

    The Federal Trade Commission (FTC) in the United States has been coming down on the payday lenders. Our neighbors to the north in Canada have also recently launched a campaign to crack down on fraudulent practices of payday loan lenders.

  • Do all internet payday loans in UK require you to have direct deposit?

    Payday loans are the best way of getting quick money without much hassle. Anyone who has a permanent job and a bank account can avail these loans and you will get the money within a matter of hours. Most of these payday loan companies have migrated into the internet to make the lending process easier for the clients. But with this migration comes another headache.

  • Emergency loans through a local bank. But is it really that easy?

    MISSOULA- At least 18 payday lending stores closed across Montana and more may follow after voters approved an interest rate cap. Backers of I-164 say folks needing emergency loans can get them through a local bank. But is it really that easy?
  • Voters pass measures on loans

    Montana voters on Tuesday passed ballot measures capping the interest rate on payday loans at 36 percent and amending the state constitution to block the government from ever imposing a certain type of real estate tax.
    They also appeared be in favor of abolishing 7,800 outfitter-sponsored hunting licenses. But voters rejected calling a convention to rewrite the state constitution.

  • Payday Loan CEO says: Free market is best

    The lower rates charged for payday loans in jurisdictions outside Nova Scotia are possible because the rates are subsidized by other financial services, says the chairman and CEO of Cash Store Financial.
    "There’s a large percentage of revenues that are generated from other services not related to payday advances that actually subsidize the product," Gordon Reykdal said Monday in an interview.
  • More than one million people apply for payday loans

    Making money last until the next pay day is an old problem, but now there are plenty of new lenders offering the solution of a payday loan. The number of people taking one out has quadrupled since 1996 according to the watchdog Consumer Focus.

Go back to the Payday Loans News Index:

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