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Payday lending News

Op-Ed: Payday lending in California continues, despite risks Special

Sacramento - Over $3.3 billion is transacted by payday lenders annually in the State of California and while the size of the transactions has gone down over the past year, the number of transactions has increased.

Louisiana Senate rejects limits to lending businesses

On Tuesday, the state senate of Louisiana rejected a bill that proposed limiting the number of payday loans that could be granted per year.

Sen. Elizabeth Warren wants post office to offer banking services

Massachusetts Senator Elizabeth Warren proposed that post offices should offer non-bank financial services to help the underserved.

San Francisco City Attorney starts payday loan refund program Special

San Francisco - You have seen the commercials on TV, instant cash by way of a "payday loan," the major drawback with such offers is that the interest rates and fees are high.

State officials issue consumer alert about payday lenders on line Special

Sacramento - As reported by in July by this reporter, Payday lending poses an economic entrapment to the everyday worker, especially those who have little recourse to a bank.

‘Born Again’ Evangelicals More Apt to Use Payday Lending

In spite of Biblical prohibitions, evangelicals are more apt to use payday lending services than others. What happened to "never a borrower nor a lender be" in Shakespeare and indirectly in scripture when it comes to quickie loans?
 

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Courtesy of Milken Institute
The State of California through its Dept. of Business Oversight is seeking to suspend the license of...
The State of California through its Dept. of Business Oversight is seeking to suspend the license of payday loan outlet lender CashCall.
The California Department of Corporations issued a warning to consumers on August 15  2012 about the...
The California Department of Corporations issued a warning to consumers on August 15, 2012 about the dangers of using payday lenders via the Internet. "Unlicensed are becoming more aggressive in their collection (of debt) techniques," said CA Dept. of Corporations Commissioner Jan Lynn Owen, in a statement released to the press, that Wednesday.
Standing outside the Money Mart/Loan Mart franchise on Market and Seventh Streets in San Francisco  ...
Standing outside the Money Mart/Loan Mart franchise on Market and Seventh Streets in San Francisco, the large check represents the settlement reached by SF City Attorney Dennis Herrera regarding payday loans and his fight to stop predatory lending practices.
Courtesy of deputy press secretary Jack Song, SF City Attorney's Office
SF City Attorney Dennis Herrera announced to the press that he has reached a settlement with Check n...
SF City Attorney Dennis Herrera announced to the press that he has reached a settlement with Check n' Go to refund California consumers who used the payday loan service. Typically payday lenders charge extremely high interest rates and fees that make it almost impossible to pay back.
Courtesy of San Francisco City Attorney's press office

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