Tag Archives: lending
Payday lending now has 1 billion dollar foothold in Virginia
Virginia – Payday lending became more entrenched in Virginia last year as the volume of short-term, high-interest loans surpassed $1 billion, according to data released by state banking regulators Wednesday.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
AG sues loan company, citing sky-high lending rates
Waco, Texas – Texas Attorney General Greg Abbott has sued a company with offices in Central Texas, contending the business has lent money at illegal interest rates of as much as 782 percent.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Payday lending: Group calls for increased regulation
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.’
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Tale of Alabama man’s payday lending schemes: Meet John Gill, Jr.
Phenix City, Alabama – Meet John Gill Jr. For at least 14 years, various payday loan schemes he operated around the country have made him a very rich man.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Governor Blagojevich calls on Congress to pass federal payday lending protections for military personnel
Chicago, Illinois – As Congress reconvenes this week, Governor Rod R. Blagojevich called on the chairmen and ranking members of the Department of Defense Reauthorization conference committee to protect members of the military and their families from the predatory practices of payday loan stores.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Lending the poor a helping hand
Birmingham, Alabama – A loan is a loan is a loan? Not exactly. There are regular loans governed by Alabama’s Small Loan Act, which caps interest rates, depending on the amount borrowed, at either 24 or 36 percent a year.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
California Department of Corporations orders online payday loan stores to stop lending in state
Sacramento, California – California Department of Corporations (DOC) has brought enforcement actions against four online stores that offer ‘pay day loans,’ on the ground that the stores have not been licensed in California.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Governor puts end to payday lending operations in nursing homes
Springfield, Missouri – Gov. Matt Blunt announced this morning that nursing homes will no longer be allowed to run on-site payday loan operations to lend money to nursing homes’ employees.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Testimony: Defense Department predatory lending report seriously flawed
Washington, D.C. – Following is the statement of Hilary B. Miller, President, Payday Loan Bar Association, regarding predatory lending practices directed at members of the armed forces and their dependents before the Senate Committee on banking, housing and urban affairs.
View full post on Payday Loan Industry Watch (PLIWatch.org) News
Payday lending cultivates legislative support for comeback
Greensboro, North Carolina – As 2005 gave way to the new year, the NC Banking Commission handed down a decision shuttering the state’s largest payday lending company; a little more than two months later Attorney General Roy Cooper announced a settlement with three others that would result in the industry for all practical purposes halting operations in North Carolina.
View full post on Payday Loan Industry Watch (PLIWatch.org) News