Another blog post to further along our campaign against the payday loan industry!! According to the Center for Responsible Lending, payday lenders create their own demand with loan terms that generate rapid re-borrowing.
This is termed “payday churning”, or repeat borrowing of what payday lenders market as a short-term loan of a few hundred dollars. [...]
Entries Tagged as 'payday loan industry'
Half of Repeat Payday Loans Opened Immediately or After 24 Hour Wait
July 15th, 2009 · No Comments · Consumer Debt, PayDay Loans
Tags: borrower·Center for Responsible Lending·Credit Cards·Fees·interest·paychecks·payday loan industry·PayDay Loans·Video
PayDay Loans Rejected by Arizona Voters
November 14th, 2008 · 8 Comments · Banking, Consumer Debt, PayDay Loans
A clear message was sent to payday lenders last week by voters in Arizona, which rejected Proposition 200 by a 3 to 2 margin. And the payday lenders are most certainly unhappy campers, after spending more than 14.6 million in one of the most expensive advertising campaigns in Arizona’s history.
The ballot proposition that was backed [...]
Tags: arizona payday loans·consumer loans·payday lenders·payday loan fees·payday loan industry·payday loan interest rate cap·PayDay Loans
