Payday Loans: Do Borrowers Know What They’re Getting? (The Huffington Post)
Posted on July 24th, 2009 | by admin |More info…
There’s been a lot of finger-pointing lately about who is to blame for the untenable financial circumstances of many American families. Among the usual suspects–Wall Street quants, fly-by-night mortgage brokers, the households themselves–none is an easier target than payday lenders.
Virginia considering regulating car title loans (Richmond Times-Dispatch)
Virginia is considering putting the brakes on the repo man, but theres disagreement on how to do it. A General Assembly panel yesterday opened hearings on a possible clampdown on car-title loans, under which borrowersoften with poor credit historiesuse their cars as collateral and lose them if they fail to repay. The industry, which typically charges 300 percent to 350 percent in annual …
Province introduces new regulations on payday loans (Metro Halifax)
The payday loan industry will soon have several new regulations in Nova Scotia. The rules came after changes were made at the federal level and the Utility and Review Board investigated what should be done on the provincial side, a Service Nova Scotia and Municipal Relations news release said yesterday. The regulations cap maximum interest rates at 60 per cent per year, cap maximum flat-rate …
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