Payday Loans Scrutinized
With more American's struggling financially, payday loans are coming under scrutiny for trapping the working poor in a vicious cycle of debt. Armen Keteyian ...
Predatory Lending: Last Week Tonight with John Oliver (HBO)
Payday loans put a staggering amount of Americans in debt. They prey on the elderly and military service members. They're awful, and nearly impossible to ...
Regulate Payday Loans
A payday loan is a short-term, high-interest loan, generally for $500 or less, that’s designed to bridge the gap between paychecks. The quick cash infusion is nice, but when you apply for a payday loan, you may wind up getting more than you bargained for.
With annual interest rates around 400 percent, payday loans are called exploitative by critics. But the industry says those rates are necessary.
A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as ...
Demetrius Johnson had no savings, no job and nowhere else to go. So he went to a Speedy Cash in southeast Denver to get a loan. The storefront was adorned with neon signs promising fast cash ...
Chapter 1321: SMALL LOANS. 1321.01 Small loan definitions. (A) As used in sections 1321.01 to 1321.19 of the Revised Code: (1) "Person" includes individuals, partnerships, associations, trusts, corporations, and all other legal entities.
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AT THIS TIME of year, the pressure for money is increased on families. Some take out loans from credit unions or banks, but some are forced to go to moneylenders.
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Ohio's payday lending law is one of the best in the nation when it comes to protecting consumers. Unfortunately, Ohio's payday lenders have found a loophole in the law, and as a result Ohio residents pay some of the highest payday loan rates in the country. (To learn what payday loans are, how they ...
A loan shark is a person who offers loans at extremely high interest rates, has cruel (or strict) terms of collection upon failure, and operates outside off the street (outside of local authority). The term usually refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans. [page needed] [page needed]