ST. JOSEPH, Mo. – The Civil Service Commission met today at the Missouri Western University Hearnes Center for its regular agenda meeting, approved three ordinances, and discussed in depth a possible change in rule allowing utilities to use payday loan facilities as places of payment. Commissioner Kenney Most state utility
In what some economists are now calling a recession, many low- and middle-income Americans are turning to payday lenders, creditors who offer short-term, low-value loans to desperate consumers. The trap ? These lenders typically charge exorbitant interest rates which can trick borrowers with loans they often cannot repay. A 2006
SuperStock / Getty Images Social media and big data are used in an innovative new payday loan banking model that is more Silicon Valley than Wall Street. More interestingly, the deal seems to have more in common with old-fashioned hometown lenders than with today’s giant banks or typical payday loan
FCA will continue to monitor overdraft pricing The FCA has confirmed that it will not extend the temporary guidelines it has put in place regarding overdraft fees. In April, he called on all companies to temporarily ensure that short clients were not worse off in terms of price compared to
The organizers of a new program to help people get out of the payday loan debt cycle have been inundated with requests from Ottawa residents. “It was quite overwhelming,” said Doug Pawson of the Causeway Work Center, a community non-profit group in Ottawa. “We received many inquiries and it was
TORONTO – A study by a Toronto-based company indicates that the rate of insolvent borrowers using payday loans in Ontario has increased for the sixth consecutive year. Insolvency Trustee Firm Hoyes Michalos & Associates says 31% of insolvent borrowers used the loans in 2017, up from 27% the year before.