Municipal courts

How Regulation Could Change Virginia Payday Loans Interest In 2021

What could change in the online payday loan policy in the United States in 2021 When you need credit, it’s easy to fall victim to bad loans. Applying for a payday loan online is one of the easiest things you can do when you need money fast. It is an option available even to people […]

Municipal courts

New research from Aite-Novarica group: pay-on-demand eliminates payday loans and overdraft fees for millions of American workers

NEW YORK – August 11, 2021 – Millions of working Americans are trapped in the vicious cycle of debt as a result of resorting to payday loans and paying expensive overdraft fees to pay their bills on time and make ends meet. However, according to new research from the Aite-Novarica Group, having access to your […]

Municipal courts

New research from Aite-Novarica group: pay-on-demand eliminates payday loans and overdraft fees for millions of American workers

NEW YORK – August 11, 2021 – Millions of working Americans are trapped in the vicious cycle of debt as a result of resorting to payday loans and paying expensive overdraft fees to pay their bills on time and make ends meet. However, according to new research from the Aite-Novarica Group, having access to your […]

Municipal courts

Payday loan addiction plummeted during pandemic, but Californians ‘not out of the woods’

“The demand for small loans fell in 2020 as many consumers stayed at home, paid off debts, managed fewer expenses and received direct payments from the government,” Leonard said in a statement. On the other hand, Cesar said the decline in the use of payday loans is not necessarily indicative of a better financial situation […]

Municipal courts

Payday Loans Need a Ceiling Letters to the Editor

Payday loans are often touted as “emergency relief,” but if you look at the data, there is nothing further from the truth. On average, people in Minnesota who use payday loans take an average of 10 loans with the equivalent of a 208% interest rate, trapping them in revolving payday debt for an average of […]

Municipal courts

More states are putting interest rate caps on payday loans

By Annie Millerbernd | Nerdwallet Low-cost, short-term lenders, unencumbered by a maximum federal interest rate, can charge borrowers rates of 400% or more on their loans. But more and more states are reducing that number by setting ceiling rates to curb high-interest lending. Currently, 18 states and Washington, DC, have laws that limit short-term loan […]