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| The payday loan bank regulators; Some federal banking regulators and legislators seek to restrict or pr | |
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| Tweet Topic Started: Jun 9 2008, 02:01 PM (135 Views) | |
| PobuhalUzhe | Jun 9 2008, 02:01 PM Post #1 |
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Newbie
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Payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. Typical loans are between $100 and $500 and are due in two weeks, with interest rates of up to 400% APR. On a two-week loan, fees average $15 for each $100 lent.[1] The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Cheap Payday Loan Kenna New Mexico One Hour No Fax Payday Loan 44 Locate Payday Loan Online 64 49 Instant Loan Payday Western 71 Payday Loans Tacoma Wa Payday Loans For A Savings Account Sea Tac Payday Loan 24 Hour Payday Advances 500.00 Payday Loan Credit Bad Credit Payday Loans Savings Account Only Payday Loans Payday Cash Loan Saint Louisville Ohio Quick Payday Loan Tamola Mississippi 4 Branson West Payday Loan 6 Payday Us Fast Cash Loan No Teletrack Payday Loan Carsins Maryland 4 Hialeah Payday Loan 6 Advance Payday Check Defence Department Men'S Billabong Payday Warm Up Jacket 4 Marianna Payday Loan 6 Covington Payday Loan Payday Loan Location Cash Advance Payday Loan Sabin Minnesota 4 Macomb Payday Loan 6 Overnight Payday Loans Advance Loan Location Payday Non Payday Loans Credit Check Copley Payday Loan 14 Payday Loans Loan Loans 20 Payday Loan Info Swenson Texas Though payday lending is primarily regulated at the state level, the United States Congress passed a law in October 2006 becoming effective on Oct. 1, 2007 that caps lending to military personnel at 36% APR as defined by the Secretary of Defense.[2] The Defense Department called payday lending practices "predatory", and military officers cited concerns that payday lending ruined low-paid enlisted men and women's finances, jeopardized their security clearances, and even interfered with deployment schedules to Iraq.[3] Actual statistics[citation needed] showed that fewer than 5% of military enlisted personnel were payday-loan borrowers, however. Some federal banking regulators and legislators seek to restrict or prohibit the loans not just for military personnel, but for all borrowers,[4] because the high costs are viewed as a financial drain on the working and lower-middle class populations who are the primary borrowers. |
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| Hazey | Jun 10 2008, 02:38 PM Post #2 |
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Advanced Member
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Why do they make these so unreadable? If they want to grab our attention they could at least use gaps in the text. No one wants to read a big block of text... |
| He Who Must Be Hated | |
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