Owner: Payday Loan Industry Watch News URL:http://www.pliwatch.org/news.html Join Date: Sat, 08 Dec 2007 18:13:26 -0600 Rating:0 Site Description: A listing of recent news about the payday loan industry compiled by
the
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Military wants to crack down on payday lenders 2006-09-04 15:15:10 San Diego, California - With a family to feed and no money for groceries, Navy Yeoman 2nd Class Damon LaForce recently did something the military is trying to crack down on: He went to one of the many payday-lending businesses near his base for an instant loan. Read more:wants
, Military
Weekend payday-loan measure fails 2006-09-02 17:30:02 Sacramento, California - A measure to curb payday-loan industry practices that target the military collapsed in the Legislature after some key backers shunned its weakened form and an Oceanside state senator who served in the Marines refused pleas by Camp Pendleton officers to support a crackdown. Read more:Weekend
Pentagon sees risk in troops' loan debt 2006-08-31 15:15:10 Washington, D.C. - As many as one in five members of the armed services are being preyed on by loan centers set up near military bases that can charge cash-strapped military families interest of 400 percent or more, a new Pentagon
report has found.
Court wacks payday-loan rules 2006-08-31 14:52:45 Albuquerque, New Mexico - Tough new rules set to go into effect today to regulate payday lenders are on hold after a District Court
judge ruled the governor and attorney general exceeded their authority.
Save military, civilians from onslaught of predatory lenders 2006-08-30 08:15:21 Columbia, South Carolina - If you believe a recent Pentagon report--and I do--payday lenders, title lenders and other predatory loan businesses threaten our national defense.
First Cash announces acquisition of Buy-Here/Pay-Here automotive retailer 2006-08-28 09:05:12 Arlington, Texas - First
Cash Financial Services, Inc. today announced the acquisition of Auto Master, an automotive retailer and related finance company focused exclusively on the 'Buy-Here/Pay-Here' segment of the used vehicle market.
New state laws regulate payday-advance loans 2006-08-27 09:07:21 Grand Rapids, Michigan - James Anderson just finished paying off a loan with an eye-popping annual percentage rate higher than 380 percent, but he couldn't have been happier. The loan was he borrowed from Approved Cash Advance, 823 28th St. SW, in Wyoming went to fix an air conditioner during the recent heat wave.
Turning payday into profit 2006-08-20 09:24:18 Sarasota, Florida - The people who call Rosemarie Hayes for help never thought they'd be in trouble. Their reasons vary. Some had a car break down, others missed paying a bill or two. Then they saw the advertisements promising fast, easy cash - a loan until next payday. Read more:profit
Payday loan company pays more than $500,000 in back wages to 900 workers 2006-08-18 10:05:52 Kansas City, Kansas - The U.S. Department of Labor announced today that Q.C. Financial Inc., a payday loan establishment that operates under the name of Quick Cash, has paid $519,088 in back wages to 900 employees to correct violations of the overtime provisions of the Fair Labor Standards Act (FLSA). Read more:Payday
, company
Mesa plan to restrict payday loan stores cited as racism 2006-08-18 10:05:52 Mesa, Arizona - One councilman says Mesa's attempts to prevent the clustering of payday loan stores
is akin to racism. 'It's nothing but an attempt to keep Hispanics out of White neighborhoods,' said Councilman Tom Rawles.
Payday lender Check 'N Go faces license revocation, fines 2006-08-17 08:17:45 Olympia, Washington - Washington state's Department of Financial Institutions (DFI) alleges that Check
'N Go of Washington, Inc. collected multiple checks from borrowers to secure loans. DFI said it intends to revoke Check 'N Go's license, impose fines
, order restitution, and charge for the cost of the investigation. Read more:Payday
, faces
Bay Area check casher moves to Miami 2006-08-16 16:17:06 San Francisco, California - Allied Cash Advance has relocated its corporate headquarters from the Bay Area
to Miami
, citing the high cost of doing business in California, the company said Wednesday. The fast-growing company was founded in 1999 with a single location in Northern California. Read more:moves
State regulators start proceedings against payday lender 2006-08-16 16:12:04 Seattle, Washington - In what it characterized as its largest-ever case against
a payday lender, the state Department of Financial Institutions on Wednesday filed a statement of charges against Check 'N Go of Washington Inc. and said it intends to revoke the company's license. Read more:State
Virginia trying to set spending limits 2006-08-13 14:15:10 Hampton Roads, Virginia
- Del. G. Glenn Oder, R-Newport News, has submitted a bill for the 2007 General Assembly session that will put new restrictions on the payday lending industry.
New Jersey Supremes Rule Against Class Action Waivers In Binding Arbitration Clause 2006-08-11 09:06:10 Trenton, New Jersey
- The New Jersey
Supreme Court on Thursday held that a provision in a payday loan contract forbidding participation by the consumer in class-wide arbitration is unenforceable. The court decided that the appropriate remedy is to sever the provision and enforce the remaining valid portions of the arbitration agreement. Read more:Action
, Binding
, Clause
State promoting alternatives to payday loans 2006-08-11 09:02:17 Portland, Oregon - A statewide television and radio Public Education Partnership campaign touting the benefits of consumer-friendly, low-cost alternatives to payday loans begins airing on Monday. Read more:State
Keizer will await 2007 payday-loan law 2006-08-09 10:02:15 Salem, Oregon - Keizer leaders have decided that a state law restricting payday loans is enough for their city, even though it won't go into effect until next summer.
Payday loan rate cap aims to help service members 2006-08-06 12:01:51 Kansas City, Missouri - An impressive alliance of 70 consumer and veterans groups is supporting a congressional amendment to protect military personnel and their families from potential predatory loans. Read more:Payday
Lawmaker takes interest in car-title, payday loans 2006-08-04 15:05:15 Hampton Roads, Virginia - Last month, Del. Glenn Oder sat down with a car-title loan officer to find out how many ways he could get fleeced. To be fair, Oder doesn't characterize it as a fleecing. He considers it more of a fact-finding mission. Read more:Lawmaker
'Payday' loans become target in Washington 2006-08-03 13:21:59 Washington, D.C. - Credit counselor Yolanda Dixon spends more and more time trying to help soldiers at Fort Leonard Wood who have taken out short-term, high-interest loans against their paychecks. Read more:Payday
, Washington
Lockyer sues pay day loan company over small claims 2006-08-02 10:52:55 Los Angeles, California - Attorney General Bill Lockyer yesterday filed a $2 million-plus lawsuit against a local pay day loan company
for violating a state law that prohibits such businesses from suing for triple the amount of the check when customers' bank accounts do not hold sufficient funds to honor post-dated checks written to secure the loan. Read more:claims
California payday loan firm faces charges 2006-08-02 07:01:09 Pasadena, California
- A payday loan company with offices in Arcadia and Eagle Rock faces
allegations of deceptive business practices and fraud in a complaint filed Tuesday by the California Attorney General's Office.
Military payday loans 2006-08-02 02:01:21 Katy, Texas - It is no secret that payday loans are everywhere: in storefronts, on the Internet and in your Yellow Pages. A payday loan is a small, short-term loan that is intended to be paid back on the date of your next paycheck. Read more:Military
California Attorney General Lockyer files lawsuit against payday loan business 2006-08-01 11:47:06 Pasadena, California
- California AttorneyGeneral
Bill Lockyer today filed a million-plus lawsuit against
Los Angeles County-based Fast Cash for violating a state law that prohibits payday loan businesses from suing for triple the amount of the check when customers' bank accounts do not hold sufficient funds to honor post-dated checks written to secure the loan. Read more:files
Local payday lender allowed to collect loans 2006-08-01 11:46:05 Mountain Home, Arkansas - A Mountain Home payday lending business that closed in July is allowed to continue collecting loans from its customers, even though it was operating without a state check-cashing license. Read more:Local
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