Payday loan users say they have no options, study says (Lexington Herald-Leader)
Posted on July 1st, 2009 | by admin |More info…
FRANKFORT A survey of low-income families in nine Kentucky counties showed that many turned to payday lenders because they couldnt access traditional loans or other banking services.
Lawmakers look at car-title lending (The Washington Times)
RICHMOND | Only about 5 percent of borrowers who fall behind in repaying their car-title loans lose their vehicles, a lawyer representing several of the high-interest lenders told a legislative panel studying the industry Monday. It was the panel’s first meeting, but because the lenders are unregulated in Virginia, legislators must rely on attorney Dewey Morris and other industry representatives …
Virginia considering regulating car title loans (The Daily Progress)
Virginia is considering putting the brakes on the repo man, but theres disagreement on how to do it.
Congress should protect all from payday loans (Arizona Daily Star)
Congress is finally attempting to do for the general public what it did three years ago for military members protect them from predatory payday lending.
A look at the proposed consumer financial watchdog (AP via Yahoo! Finance)
A look at Obama’s proposal to create a Consumer Financial Protection Agency: –The agency would oversee products used by consumers such as mortgages, credit cards, payday loans and terms on savings accounts.
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