Payday Lender Leaves VA (6:17 p.m.) (CBS 6 Richmond)
Posted on April 28th, 2009 | by admin |More info…
RICHMOND, Va. (AP) – An Ohio payday lender is quitting Virginia, citing new the state’s restrictions on the speedy loans. Check ‘n Go spokesman Jeff Kursman said the company has already stopped originating loans in Virginia.
Payday lenders offer instant cash – but it’ll cost you (Dallas Morning News)
The lenders, which charge borrowers rates far above those of banks, have virtually no state oversight in Texas. Several legislators are trying to regulate or effectively abolish the practice.Legislature bills:
Money Mart in court over high interest rates (Victoria Times Colonist)
During the first day of a class-action lawsuit trial, the actions of Victoria-based National Money Mart and its U.S. parent company were described yesterday as a conspiracy to charge illegal rates of interest to payday loan customers in Ontario.
Payday loan association welcomes new rules on P.E.I. (CBC Prince Edward Island)
P.E.I.’s proposed payday loans act will balance consumer protection with a viable payday loan industry, says the Canadian Payday Loan Association.
Credit unions push into payday loan business (St. Louis Post-Dispatch)
Rita Benson, a married mother of two from Florissant, knows the drill at payday loan shops. “I’ve had several different loans,” she said. “A lot of it was just emergency stuff my car broke down and such.” But her last trip to the loan shop got her in over her head.
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