Confusion Mars Ohio Vote On Payday Lenders
Oct 22nd, 2008 · Voters in Ohio are being asked to give the state permission to lower a cap on interest on payday loans to 28 percent. As the industry fights back, many say its ads are confusing voters.
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Ohio Lawmakers Target Payday Lenders
May 2nd, 2008 · Lawmakers in Ohio are attempting to crack down on what are known as payday lenders — dealers who charge short-term borrowers in need of quick cash extraordinarily high interest rates. But lenders say the effort could put them out of business. Bill Cohen reports from Ohio Public Radio.
The Merits of Payday Lending
Jan 25th, 2008 · Several states are placing stricter regulations on the payday lending industry. Consumer advocates say these types of loans lock poor people in debt traps, but the industry counters that 90 percent of customers repay loans on time.
'Marketplace' Report: Avoiding Subprime Risk *
Dec 28th, 2007 · Subprime interest rates are tied to more than mortgages -- they affect credit cards, payday loans and auto loans. Marketplace's Steve Tripoli offers tip on how consumers can avoid the risks associated with these.
Credit Unions Seek Payday Loan Consumers
Oct 15th, 2007 · A growing number of credit unions hope to steer consumers who are strapped for cash away from payday loans by offering less-expensive options. Interest rates charged by payday loan centers can climb into the triple digits.
Payday Loan Interest Rates Capped at 36 Percent *
Oct 1st, 2007 · A new federal law bans predatory lenders from taking advantage of military personnel and their families. Check-cashing stores around military bases often charge annual interest rates of 300 percent. But the new law caps interest at 36 percent for loans to active-duty military and their families.
A Payday for Bronx's Panhandling King ****
May 16th, 2007 · Eddie Wise was one of the most expert panhandlers in his Bronx neighborhood, pulling in $10,000 a year, all of it tax free. Tired of regular arrests by the New York Police Department, he sued the city for harassment and won $100,000. Wise and writer Jennifer Gonnerman, who profiled him for New York Magazine, talk to Farai Chideya about Wise's windfall.
Lenders Vow to Clean Up 'Payday Loan' Operations *
Feb 22nd, 2007 · Lenders who make short-term loans to cash-strapped borrowers -- commonly known as "payday loans" -- are vowing to reform the way they operate. It's a pre-emptive move by an industry often accused of predatory lending.
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