Archive for November, 2008

You Want Bank Loans or Private Loans?

Tuesday, November 18th, 2008

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Payday lenders search for options after passage of Issue 5 (Lancaster Eagle-Gazette)

Sunday, November 16th, 2008

More info...FAIRFIELD COUNTY - Voters decided a 28 percent interest rate is enough for "payday" loans with a resounding passage of an initiative on Election Day.Summary Box: Ohio payday lenders look for options (AP via Yahoo! News)WHAT HAPPENED: Ohio voters upheld state law that caps annual interest rate on payday ...

Defeated in Ohio, payday lenders look at other options to offer short-term loans (Minneapolis-St. Paul Star Tribune)

Sunday, November 16th, 2008

More info...CINCINNATI - The payday loan industry stung at the Ohio ballot box with a strict new law is looking for other ways to do business, prompting consumer advocates to worry that lenders are finding a way around the election results.Payday lenders search for options after passage of ...

Defeated in Ohio, payday lenders look for options – The Associated Press

Saturday, November 15th, 2008

More info...The Associated PressDefeated in Ohio, payday lenders look for optionsThe Associated Press - Nov 13, 2008Payday loans work this way: A borrower goes to a check-cashing company and writes a check. The company gives the person cash, minus a fee, and agrees not to ...Superior credit union offers alternative to ...

Payday lenders slapped with Ohio law (CNN Money)

Saturday, November 15th, 2008

More info...New Ohio legislation limits payday loans to 28% APR, down from an average of 391% APR.Whats next for payday loan industry? (The Daily Dispatch)PHOENIX -- The defeat of Proposition 200 at the polls has left the payday loan industry with a two-word question: Now what? Doing nothing is not ...