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The payday lenders, who will go out of business on July 1 if they don’t get legislative action before then, are making another effort for a new lease on life: Howie has the details: Rejected by voters and stymied in the House, lobbyists for payday lenders are now trying to get a Senate panel to approve legislation to keep the industry alive beyond June 30. But now there’s a sweetener: They’re …

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webmaster@technorati.com wrote an interesting post today on
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Payday lenders only ones who can’t make money on 36 percent interest ratesIowa Independent“We can’t make a profit on 36 percent loans,” says Steven Schlein, a spokesman for the payday lending trade group, the Community Financial Services …Costly Cash: Don’t Expect Federal Regulators to Protect You From Payday Loans DailyFinanceThe CFPA Won’t Have Power Over Payday Lenders? Atlantic Online (blog)The payday lender CFPA carve-out Ethiopian Review Financial News USA (press release)  - Financial Times  - Daily Kos (blog)all 23 news articles »

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webmaster@technorati.com wrote an interesting post today on
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The Better Business Bureau is warning customers about online payday lending sites.

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webmaster@technorati.com wrote an interesting post today on
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Consumer advocates hoped the lenders would be reined in by a new federal consumer financial protection agency, but a bipartisan proposal would largely exempt them from regulation. Payday lenders didn’t cause the economic crisis, but consumer advocates hoped their sky-high interest rates on loans would be reined in as part of a sweeping regulatory overhaul to prevent a repeat of the financial …

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webmaster@technorati.com wrote an interesting post today on
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TPMMuckraker (blog)

High-Living Pay-Day Lender CEO Tied To Bid To Weaken Financial ReformTPMMuckraker (blog)As Harper’s noted in a story on the pay-day lender industry last year entitled “Usury Country,” “a payday loan essentially becomes a lien against your life, …and more »

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