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OR Payday LoansNPR News - Tell Me More , February 20, 2008 · Payday loans can be a fast fix for money problems. But interest rates on these loans can go up to 400 percent, making repayment nearly impossible. Financial expert Alvin Hall discusses the loans, and what people ... Read more
Money Coach: Beware of Payday LoansThe State - The S.C. Senate voted Tuesday to curb payday lending, passing a provision even tougher than a compromise reached last week and coming close to considering a ban on the high-interest, two-week loans. During four hours of debate, senators supporting a ... Read more
Payday lending in S.C. | Senate votes to limit loansForbes - South Carolina senators agreed Tuesday to limit payday loans to no more than $500 at a time and create a list of borrowers that businesses must check before lending money. The tougher regulations would also double licensing fees for payday lenders ... Read more
S.C. Senators Set Payday Loans LimitsWLTX.com - COLUMBIA, S.C. (AP) - The state Senate has agreed to tougher new restrictions on payday loans, but stopped short of banning the industry in South Carolina. The restrictions include a borrower database, loan caps and a ban on multiple loans in a seven ... Read more
Senate Agrees to Payday Lending RestrictionsFOX Carolina - The bill requires lenders to check a borrower database and places a $500 limit on loans. It also bans multiple loans in a seven-day period. Spartanburg Sen. John Hawkins spent more than an hour on Tuesday calling for a ban, saying the state can never ... Read more
Senate Agrees To Payday Lending LimitsArizona Daily Star - PHOENIX — Insisting the product may be necessary, a Senate panel voted Monday to keep the payday-loan industry alive in Arizona until at least 2012. The 3-2 party-line vote by the Senate Committee on Financial Institutions and Insurance came over ... Read more
Senate panel supports payday loans The State - A campaign begun last year to limit payday loans will face a critical test todayas S.C. senators debate a compromise that has grudging support from both finance companies and consumer advocates. The bill would allow payday lenders to earn their same ... Read more
Showdown looms for payday lending billEast Valley Tribune - Critics of high-interest payday loans are asking voters to put the industry out of business this year through an initiative petition drive that aims for the November general election. They claim payday loan stores target the poor and trap them in an ... Read more
Critics cashing in on payday loan hysteriaSpartanburg Herald-Journal - Payday lenders provide short-term loans, usually for two weeks, and usually charge $15 for every $100 borrowed. Industry critics say the annualized interest rate, nearly 400 percent, is too high a price to pay. They also say that too many people get ... Read more
Senate approves bill regulating payday lendersWashington Post - Members of the military use payday loans three times as often as civilians, a Defense Department study found. With a payday loan, you borrow against a future paycheck. Congress was so concerned about payday loans for military personnel that it capped ... Read more
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