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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Advance America retreats 2006-07-28 10:56:01 Spartanburg, South Carolina - Considering their growth over the past decade or so, so-called payday lenders are providing a much-needed service by lending customers small amounts of money -- often as little as $50 and sometimes as much as $3,000 -- for a brief period ... usually until the customer gets his or her next paycheck. Read more:America
, Advance
EZCORP payday loan revenue up 78 percent, raises 2006 guidance 2006-07-26 09:11:16 Austin, Texas - EZCORP's net income for the quarter ending June 30, 2006, increased 163% to $5,608,000 ($0.40 per share) compared to $2,129,000 ($0.16 per share) for the quarter ended June 30, 2005.
Payday loan perils 2006-07-26 08:52:51 Baton Rouge, Louisiana - One elderly Acadiana area woman calls into the local Better Business Bureau office because she doesn't understand why her Social Security check is being deposited directly into her local payday loan company's bank account. Read more:Payday
, perils
Payday loans aren't the answer to financial woes 2006-07-23 09:35:48 Yokosuka Naval Base, Japan - You get a regular paycheck. You may have little financial experience. You deploy at a moment's notice around the world. That's why the military is the perfect prey for predatory lenders. Read more:Payday
, answer
Republic Bancorp profits decline 28 percent, still 'solid' 2006-07-22 17:15:02 Louisville, Kentucky - Louisville's Republic
Bancorp yesterday reported a 28 percent profit decline for the quarter ended June 30, primarily because of the discontinuation of the company's payday-loan business. Read more:profits
Payday loan company shuts doors in Mountain Home 2006-07-20 14:23:56 Mountain Home, Arkansas - A Mountain Home check cashing business has closed, partially complying with an administrative order issued last month, a state regulatory official said Wednesday. Read more:Payday
, company
, Mountain
Florida files suit to open EZPawn's records 2006-07-19 08:11:12 Orlando, Florida
- The Florida unit of EZCorp Inc., one of the nation's largest pawn-shop chains and payday lenders, is taking heat from state regulators who accuse it of operating unlicensed offices and stonewalling an investigation of its lending activities. Read more:files
Lenders cashing in on short-term loans 2006-07-16 13:12:13 Charleston, South Carolina - As a leading advocate for the low-income community, attorney Susan Berkowitz has seen firsthand the perils of payday lending. Read more:Lenders
Consider options before going to a payday lender 2006-07-15 10:17:13 Albuquerque, New Mexico - David Seely feels like scratching his head when he hears payday and car-title loan companies squawking about being squeezed out of business if New Mexico caps interest rates at 36 percent or 54 percent or 60 percent.
One family shows there is a way out from the payday loan cycle 2006-07-15 10:15:06 Albuquerque, New Mexico - Emily Bihn doesn't know what she and her young family would have done without payday loans. Between August 2003 and January of this year, Bihn, her fiance and their two little girls depended on a series of loans averaging each to pay for rent, food, gasoline, clothes -- the necessities.
Lawmakers work to make payday loans more manageable 2006-07-14 12:11:08 Albuquerque, New Mexico - The job of making small, short-term and very high-interest loans is one of the fastest growing businesses in the United States. New Mexico has 700 payday and car-title stores. Around the country: more than 22,000. And in New Mexico, a poor state and thus fertile ground, the payday and car-title industry is pretty much free to stampede because no laws control it -- even though some of the state's most prominent political figures are passionate about reining it in. So why haven't they done so? Attorney General Patricia Madrid can tell you something about that.
Payday loan crackdown blocked: Panel says Blagojevich aide politicizing issue 2006-07-12 18:10:02 Chicago, Illinois - Members of a legislative rule-making committee on Tuesday blocked Gov. Rod Blagojevich's administration from imposing highly touted restrictions on short-term lenders and complained that the agency director pushing for the change was politicizing the issue
. Read more:Payday
, Panel
Cash America Buys CashNet 2006-07-10 14:25:11 Belmont, California - Cash America
International said Monday it will buy CashNetUSA for million in a move to give the brick-and-mortar loan company a better online distribution channel for short-term cash advances.
Military personnel prime targets for loans 2006-07-09 07:52:15 Pensacola, Florida - Active-duty personnel are three times more likely than civilians to take out a payday loan, according to the Center of Responsible Lending. They have a steady income from the government, often with little to spare. Read more:Military
, prime
, targets
Regulating consumer loans: An unjust assault on payday loan industry 2006-07-07 20:25:01 Salem, Oregon - With its two most recent articles ('High title loan costs unchecked' and 'Payday lenders look for ways around cap,' July 2), The Oregonian continues its one-sided and unjust assault on both providers and users of short-term loans. Read more:industry
, Regulating
John Edwards: stop predatory lenders 2006-07-07 20:18:05 Des Moines, Iowa - John Edwards
, a White House hopeful, focused on the problem of predatory lenders in his first swing through Iowa since a statewide poll gave his potential presidential campaign a boost. Read more:John Edwards
Illinois State: Fine AmeriCash for alleged overcharges 2006-07-07 12:12:05 Springfield, Illinois
- The Blagojevich administration and Attorney General Lisa Madigan took action Thursday to stop what they allege is a consumer protection violation by payday loan company AmeriCash Loans LLC of Des Plaines. Read more:State
We owe more thought to payday loan issue 2006-07-06 16:49:28 Salem, Oregon - In recent news on the misguided attempt of Portland, Gresham, Troutdale, Silverton and now Beaverton to regulate the terribly misunderstood and wrongly maligned payday loan industry, Beaverton City Councilor Dennis Doyle, however well-intentioned, makes some statements that highlight the gross ignorance that clouds this issue
. Read more:thought
Payday lending: Group calls for increased regulation 2006-07-05 10:15:12 North Central Arkansas - A member of an Arkansas lending advocacy group said the recent 1.3 million dollar fine against an Arkansas payday lender is a 'big step in the right direction.' Read more:Payday
, calls
, Group
Arkansas payday lender keeps stores open 2006-07-03 08:42:52 Arkansas - The owner of 14 payday lending businesses in Arkansas, including businesses in Cabot, Beebe and Searcy, was fined 1.3 million dollars Wednesday for operating without a license and ordered to immediately cease, but all 14 are still open and the state board that handed down the order will have to take him to court to enforce it. Read more:stores
, Arkansas
, keeps
Payday lenders look for ways around cap 2006-07-02 16:45:21 Salem, Oregon - Some payday lenders may already be maneuvering to skirt a state law that will not take effect for another year, state officials say. Read more:Payday
Payday-loan rules provide break 2006-07-02 14:15:09 Detroit, Michigan - Driving north on Woodward Avenue through Royal Oak the other day, I spotted a window sign proclaiming good deals on those quick-fix, high-cost, payday loans. Read more:Payday
Blagojevich turns up heat on payday lenders again 2006-06-28 16:12:05 Springfield, Illinois - Just months after Illinois cracked down on the short-term loan business, Gov. Rod Blagojevich is making another push for restrictions to protect consumers: a push the industry says goes too far. Read more:turns
Some overuse bank overdraft programs 2006-06-26 12:51:19 Wichita, Kansas - Fidelity Bank billboards across Wichita advertise the bank's personal overdraft protection program as 'Your checkbook's best friend.'
Critics say high-price 'Choice' loan is still illegal 2006-06-22 11:32:16 Pittsburgh, Pennsylvania - Just three months after exiting the controversial payday lending business in Pennsylvania under pressure from state and federal regulators, payday titan Advance America is back with a new type of short-term, high-price
d loan for people strapped for cash. Read more:Choice
, illegal
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