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who was until last year Arizona’s attorney general. At the height of the US subprime mortgage crisis, he said, people in his state were sinking deeper into debt because of payday loans. He persuaded the state’s usually pro-business legislature not to ...

Payday sector in search of new frontier

Citizens Advice Bureau reports a four-fold increase in the number of people with payday loans coming ... rollovers and repeated loans. At least 35 US states and 15 European countries have introduced legal restrictions. In Arizona, the maximum fee is ...

Red alert on pay-day loans

Yes, you may!" game, the Comptroller gives them permission. As a result, charter holders could offer payday loans in states that banned them outright (Ohio, North Carolina, Arizona, and Massachusetts), in states that cap interest rates (Georgia ...

Federal Charter for Nonbanks Would Harm Unbanked

“Jerald Allen Newman, 54, has come to symbolise the mayhem of the day after he was videoed with blood streaming down his face as he was arrested by police officers in Phoenix, Arizona ... are taking out payday loans at exorbitant interest ...

Death, pepper-spray, fights, robbery part of high price of holiday spending

However, in July 2011, when the new Consumer Financial Protection Bureau officially launches, that agency will become the major clearinghouse for consumer complaints about financial products such as credit cards, payday loans and mortgages. Torok from the ...

FTC report: Credit card complaints nosedive in 2010

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