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State Laws for Payday Loans 2015

Want to know what the 2015 payday loan laws are in your state?

You can waste ours “Googling” search terms sauch as “My State payday loan laws” or “cash advance fees in My State.” Or simply visit National Conference of State Legislators for a substantial summary of where payday loan laws, compliance and legislation stand today.

As a new or existing payday loan or installment lender, you can pay your lawyer some serious cash to track down the basic startup info you need or educate yourself FIRST by using the resource below.

As a consumer, you can save yourself tens of hours by visiting the same resource. Are you being overcharged by your payday loan lender? Can they prosecute you? Can they take your car? Can the lender garnish your wages? Save yourself some time and begin your research reagrding legal loan fees and rates here:

Here’s a link to their website: State-by-State Payday Loan Lending Laws 2015


Scott Tucker, AMG Payday Loan Law Suit Update

From the FTC:

AMG and MNE were defendants in an action against more than a dozen companies and corporate officers, alleging they violated the FTC Act, the Truth in Lending Act, and the Electronic Fund Transfer Act. MNE lent to consumers under the trade names Ameriloan, United Cash Loans, US Fast Cash, Advantage Cash Services, and Star Cash Processing. AMG serviced the loans.

According to the complaint, the defendants misrepresented how much loans would cost consumers and charged them undisclosed and inflated fees. Here just one example: The defendants’ contract said a $300 loan would cost consumers $390.  But what did people really have to shell out to repay the loan?  $975.

To settle the case, AMG and MNE will pay $21 million and will waive another $285 million in… Read More Here.


Payday Loan Collections: Direct Lender Continues Expansion


[A sponsored listing] Collections / Customer Service Advisors, Nottingham, £17,000 – £19,000 + Excellent Benefits – Have you got excellent communications skills with the ability to develop strong customer relationships? Do you have a positive outlook with the drive, commitment and attitude to build a career with a market leading brand? If so please read on…

Due to our expansion we are looking to recruit a number of Collections / Customer Service Advisors to join us as Collection Account Managers and help support our growth in our Head Office in Nottingham.

Speedy Cash is a leading financial services provider offering personal loans, Cheque Cashing, Money Transfers and Cash for Gold. As a leading Payday Loan Lender in the USA since 1997, we are different and our customers know we’re different. We pride ourselves in offering the kind of service & respect you just won’t find elsewhere.

As our Collections Account Manager you will Continue Reading..


San Diego Payday Loan Store for Sale

Here’s a good opportunity for an internet lender to establish a brick-n-mortar, an existing lender to add the beautiful city of San Diego to their portfolio or for a new small dollar loan entrepreneur to buy an established business.

  • Located in San Diego, California.
  • Monthly rent is $3500. Seller willing to subsidize rent down to $3000/mo with 4% increase per year.
  • The space is approximately 1850 square feet. The lease terms can be 3 years plus with options.
  • Seller invested $70K in improvements
  • Zoned for payday/check cashing/pawn/tax/insurance
  • Owner is motivated; wants out today.
  • Price? $35K – $40K range
  • Want more info? Shoot an email to INCLUDE YOUR CONTACT INFO with Subject: San Diego
San Diego Payday Loan Store for Sale

San Diego Payday Loan Store for Sale



Interior of San Diego Payday Loan Store

Interior of San Diego Payday Loan Store

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NY and VISA Attack Payday Loan lenders Use of Debit Cards

Andrew M. Cuomo & Benjamin M. Lawsky
Governor Superintendent

April29, 2014

Martin Elliott
Senior Director Brand Protection
Visa, Inc.
900 Metro Center Blvd.
Foster City, CA

Dear Mr. Elliott:

The New York State Department of Financial Services (“DFS”) has discovered a disturbing new tactic that online payday lenders are using to illegally withdraw funds from New York consumers’ bank accounts.

As pressure has mounted surrounding online payday lenders’ abuse of the Automated Clearing House (“ACH”) network, some payday lenders are migrating to
debit cards to process illegal payday loan transactions with New Yorkers. Fortunately, this trend appears to be in its early stages and the Visa debit network has strong protections that prohibit the processing of illegal transactions.

This letter confirms proactive commitments that Visa has made in discussions with DFS to quickly halt the processing of illegal payday loans through the
Visa debit network before Continue Reading..