Personal Loan News

03
Apr
What Borrowers Do When Payday Loans Go Away

The payday loan industry has been significantly diminished in the state of South Dakota. For South Dakota consumers, payday loans used to be available at storefronts, but since late 2016, this access and annual interest rates have been cut.Following an intense campaign highlighting the payday loan cycle borrowers endure with extreme fees and interest, South Dakota [&h

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29
Mar
Head of CFPB Won’t Sue in Payday Loan Collector Case

CFPB Director Mick Mulvaney will not pursue a lawsuit against a payday loan collector.Mick Mulvaney, who serves as interim head of the Consumer Financial Protection Bureau (CFPB), has opted not to pursue a lawsuit against a payday loan collector, CNBC reported. He is also deciding whether he’ll move ahead with possible lawsuits involved three other […]

Posted in: Personal Loan News,
16
Mar
Study Finds Link Between Payday Loans and Poor Health

A recent study revealed that consumers who use payday loans are likely to have poor health. A new study has disclosed that almost 40 percent of people seeking short-term, high-interest loans from lenders such as payday loan companies are likely to report their health as either fair or poor.University of Washington Ph.D. students conducted a study […]

Posted in: Personal Loan News,
13
Mar
Should Banks Become the New ‘Payday’ Lenders?

In the beginning of March, the Florida state legislature voted to allow payday lenders to make larger loans over a longer period. In early March, the Florida state legislature approved revamping regulations for payday loans, voting to allow payday lenders to make larger loans for a longer period of time.The bill aims to allow alternative lenders […]

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09
Mar
Entrepreneurs Pawning Their Collectibles to Fund Ventures

A growing trend amongst wealthy people has been pawning their possessions as collateral for personal loans.  Pawning goods is often seen as a last resort for the cash-strapped to get funds in a pinch. But now there is a new trend emerging when it comes to pawning: The wealthy are using their high-priced possessions as collateral for […]

Posted in: Personal Loan News,
16
Feb
A New Indiana State Bill Could Triple Payday Loan Shark Rates

A proposed bill that recently passed in the Indiana state House, in a 53 to 41 vote, could make payday loans even less of a good deal for borrowers if it passes through the state Senate. If it passes, this type of loan could carry steep annual percentage rates – up to three times the […]

Posted in: Personal Loan News,
09
Feb
Goldman Sachs Eyes Buying Personal Finance Startup Clarity

Goldman Sachs, whose building (left) highlights the Jersey City skyline, is in talks to buy personal finance startup Clarity Money. Insiders say Goldman Sachs Group Inc. is eyeing the possibility of buying Clarity Money, a personal finance startup. Those unidentified sources said Goldman Sachs intends to mesh it with Marcus, its online personal loan lender.Although a

Posted in: Personal Loan News,
08
Feb
Proposed Bill Would Increase Payback Time for Payday Loans

Legislators in Alabama are attempting to give payday loan borrowers extra time to pay back said loans. Alabama legislators haven’t given up on trying to scale back the cost of a payday loan. The most recent attempt at payday loan reform is attempting to give those who seek payday loans additional time to pay them back. […]

Posted in: Personal Loan News,
02
Feb
Tennessee Resident Involved in Loan Consolidation Scam

A Tennessee woman fell victim to a loan consolidation scam after building up a considerable amount of debt.There are a number of downsides to having unmanageable amounts of debt. And unfortunately, one result is that this debt makes many unsuspecting consumers vulnerable to being preyed upon by scam artists. This is something that a certain […]

Posted in: Personal Loan News,
01
Feb
Discover Financial Stocks Still Looking Promising

Due to an excellent fourth-quarter in 2017, Discover Financial Services continues to show promising growth on Wall Street.Discover Financial Services stocks are continuing to rise, thanks to news of its stellar fourth-quarter 2017 results that were highlighted when its earnings were released in January. That led to more confidence in Discover stock, which had been [&hellip

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