Star Tribune What appeared a likely reform of controversial payday lenders at the Minnesota Legislature fell apart at the close of 2014 session. This year, it didn’t even get out of the starting blocks. This is a setback for a coalition of community and religious groups who demanded concessions and who produced hard-pressed customers who […]
St. Anthony: Payday lending has slipped off the reform radar Read More »
Clark Howard | Money in your pocket Payday lenders offer consumers an easy way to bury themselves under mounds of debt. The typical payday lender allows you to walk into their establishment, turn over a personal check that’s postdated to your next pay date and walk out with cash — minus some high fees. Why
New Ways for Employers To Make Affordable Payday Loans to Workers Read More »
Akron Beacon Journal What: Neighborhood Housing Services of Greater Cleveland is helping employers set up programs that give workers access to emergency loans of up to $2,000 at no cost or risk to the employer. How: Employees of participating businesses apply for loans online. A 24 percent interest rate is applied. The loan is paid
Star Tribune St. Paul-based Sunrise Banks, which aims to make a buck doing good as it grows its consumer loan portfolio, plans to take on the payday lenders this year with a new product that it has tested on its own employees and several other pilot employers. “We’re strongly opposed to predatory lending and that’s
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Cleveland.com CLEVELAND, Ohio — Workplace Impact’s president, Shelly Sekki, was skeptical when a local nonprofit contacted her about offering payday loan alternatives to her employees as a perk. When Neighborhood Housing Services of Greater Cleveland first presented the idea last summer, Sekki wasn’t sure her employees would even be interested in small-dollar loans. But after
Payday loan alternative gives employees access to loans as a perk: Plain Dealing Read More »
Crain’s Cleveland Business Five years ago, Ohio passed the most robust payday lending regulation in the country in response to the revelation that there were more payday lenders in Ohio than the three most common fast-food chains combined. The legislation was supposed to protect consumers from predatory lenders charging outrageous fees for small loans that
Personal View: Why is payday lending still so strong in Ohio? Read More »
The Hill While our economy continues to improve for some, millions of Americans are financially unprepared to deal with unexpected expenses. A child unexpectedly becomes ill, requiring an emergency room visit. A heater breaks down in the middle of winter, leaving a family in the cold. A car needs a new engine in order to
Payday lending: Reforming a broken Industry Read More »
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