Payday Loan Strategies, Tactics & Trends

By | Nov 29, 2008

Everyone wants to know what’s going on in the payday loan industry. What are the latest trends? What’s the newest strategy? How do my defaults compare with every one else and how do I improve? Heck, for that matter how does everyone else even measure or define defaults? One method of gaining additional insight that […]

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Payday Loan Lenders Get Hassled Over Disclosure-Again!

By | Nov 15, 2008

All industries have a few knuckle heads in their midst. No surprise, this includes the payday loan industry. There are some very basic requirements we in the industry must adhere to. Disclosure of loan terms, the APR (Annual Percentage Rate), the payment schedule, the amount financed, the total of payments, and any late fees are […]

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Ohio Banks Offer Payday Loan Product Legally!

By | Nov 13, 2008

While Wells Fargo, U.S. Bank and Fifth Third all offer their advances for periods up to slightly more than a month, their policy is to automatically pay themselves back upon the first direct deposit of $100 or more.

So if you borrow $200 three days before payday because of an unforeseen emergency, the bank would take $220 upon direct deposit.

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Oregon Payday Loan Consumers Worse Off Without Them

By | Nov 12, 2008

A new survey conducted by Dartmouth College reveals residents are WORSE off without access to payday loan products! Data on 400 payday loan consumers collected before and after the imposition of an interest-rate cap in Oregon indicates that the payday loan rate cap resulted in a severe downgrade in the financial condition of the Oregon […]

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Payday Loan Job Losses in Ohio

By | Nov 12, 2008

Check ’n Go payday lending chain said Tuesday that it will close about half of its Ohio stores over the next several months. CNG Financial said it will close 36 of its 71 stores in the state, eliminating up to 75 jobs. The company didn’t specify which sites would be shut down, but a spokesman […]

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