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Lost without personal installment loans

New Installment Loan Rules Leaves Millions with Nowhere to Turn

In the next few weeks, the Consumer Financial Protection Bureau, or CFPB, will be wrapping up its payday lending rule, the one that has caused contention between lawmakers and government agencies. The bureau’s new lending rule will put limits on the kind of installment loans that many borrowers seek when they’re facing a financial problem.
Pay day loans face a bruising battle

Pay Day Loans Face Bruising Fight Over the Industry’s Future

New U.S. regulations are on the way, and they’re ones that could put a serious dent in the profits of the pay day loan industry. Any day now, the Consumer Financial Protection Bureau, or CFPB, is expected to propose a set of official rules that will put the payday loan industry in check. Lobbyists as
Experts debate the payday cash advance industry

Should the Payday Loan Industry be Allowed to Exist? Experts Weigh In.

In some circles, a payday cash advance is being proclaimed as one of the worst financial decisions that any American can make. Critics cite the high interest rates charged by the payday loan industry, the prevalence of low-income borrowers and the tendency of many borrowers to renew their loans or obtain multiple loans as evidence
working man pondering pay day loans

Pay Day Loans Users Punished by Same Banks who Bounce their Checks

When banks won’t lend, people with poor credit often turn to pay day loans. When borrowing money from a bank, many factors are considered before a traditional financial institution will issue a loan, online or off. These factors include the borrower’s annual income, credit history and debt-to-income ratio. If a loan consumer fails the bank’s
Single-mom-applies-for-payday-loans

If Payday Loans are Killed Off, what Takes their Place?

One of the biggest questions that arises over the possibility that payday loans could be legislated out of business by the Consumer Financial Protection Bureau, or CFPB, concerns whether any comparable loans will replace these emergency, short-term loans. Consumers have come to depend on these payday advance loans, and most internet loan borrowers support the
Installment loan street sign

Use of Installment Loans Skyrockets as Market Share Explodes

To keep their finger on the pulse of the financial well-being of everyday Americans, organizations like the Center for Financial Services Innovation, or CFSI, completes money-based studies and surveys. A recent assessment found that underserved American consumers paid an estimated $141 billion in interest and fees during 2015. These fees were generated from $1.6 trillion
Stores offering advance cash loans

Cash Advance Industry Looks Towards Trump for Regulatory Reprieve

The cash advance industry has been under fire for several years. Critics charge that the rates are excessive and that borrowers can become trapped in a cycle of debt. In June 2016, the Consumer Financial Protection Bureau1 released its proposed rules to regulate lenders how offer payday, title, personal installment and cash advance loans. The
quick payday loans application

Payday Loans: Targeted by the CFPB and Demonized by Clinton

A new study released by the Consumer Financial Protection Bureau, or CFPB, targets the beleaguered payday loans industry with yet another charge of malfeasance. Apparently, these lenders are trying too hard to collect their legal debts from borrowers. JDSupra.com1 reveals that the report, which was published before the CFPB released its long-awaited guidelines on June
Small Payday Loan Application

Why Payday Loans are Here to Stay

Despite intense publicity over the past few years, payday loans are here to stay regardless of the opposition of consumer groups and the Consumer Financial Protection Bureau. The agency was created by the Dodd-Frank Act to regulate the financial industry after the excesses of Wall Street and the banking industry led to the 2008 financial

Five Critical Mistakes to Avoid When Using Fast Loans

In recent years, lenders offering fast loans, including payday lenders and online lenders making installment loans to borrowers with poor credit, have been under attack. The Consumer Financial Protection Bureau1 and other agencies have been extremely vocal about the dangers of short-term, high-cost loans. However, these types of loans can be a lifeline for the