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Payday loans News

Fast rising digital loan firm in administration

London - One of the U.K.’s fastest growing digital technology firms Wonga, which offered short-term loans at relatively high rates of interest, has gone in administration. The firm had been caught up in a series of compensation claims.

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.

Regulation to curb Payday loans companies

Price caps on short-term loans have begun in Great Britain and although more than 1 million borrowers can expect to see the cost of their loans decline, most of the lenders have set interest rates and fees to the maximum allowable by law.

'Last Week Tonight's' John Oliver took aim at payday loans

British comedian John Oliver recently took aim at payday loans, which are unsecured short-term loans that have high interest rates.

Op-Ed: California officials seek to suspend payday loan outlet CashCall Special

Sacramento - San Francisco City Attorney Dennis Herrera was pleased to hear the news that state officials are going after some of the most predatory of loan outlets, often referred to as "payday" loans.

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.

Op-Ed: The Archbishops' follies on wages and Wonga

The Archbishops of York and Canterbury have recently spoken out on low pay and high interest rates. They mean well, but do they know what they're talking about?

Op-Ed: Payday loans — A lesson for the banks?

Recently, a government watchdog ordererd a clampdown on payday loan companies that batten off people's misery. Will our rulers learn the lesson and apply it to the banks?

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.

City Attorney goes after predatory 'pay-day loan' franchises Special

San Francisco - San Francisco City Attorney Dennis Herrera seeks restitution of over $7 million to California consumers entangled in "pay day loan" outlets.

Octomom pitches payday loan service

Nadya Suleman, the octomom, had her house foreclosed on recently and now she has endorsed an instant payday loan service.

Government watchdog to act on payday loans

In recent years, loan companies have been using strong arm tactics against vulnerable borrowers. Now, the Office of Fair Trading has finally decided enough is enough.

Ontario To Cap Fee Amount On Payday Loans

The government in Ontario made new regulations to cap the amount companies can charge for offering payday loans. Prior to this there were no rules for these companies in the province.

Payday Loans on the General Assembly Agenda

PayDay Loans or Loan Shark Loans??
 

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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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Courtesy of Milken Institute

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