Who are the companies lending money to the payday loan lenders? They are the banks, of course. They are certainly not lending to families and small business. In fact, these are the same banks who were bailed out by the government. There are published reports where you will find quotes from these very bank lenders … Continue reading "Who Are The Banks Lending To? Can You Really Believe What You Hear?"
Believe it or not, as we reported in a previous article, 65% of Americans do not have a personal budget. A budget is an essential tool to get a handle on where your money is being spent. Here is a guide to get you started: Keep track of your spending. This may seem obvious, but … Continue reading "How to set up a budget"
This Winter on December 21, the Consumer Financial Protection Bureau (CFBP) will open its doors. This agency was created as part of the Dodd-Frank financial reform law, and will have the power to regulate payday lenders. With the creation of this new agency it is no surprise that payday lenders have more than doubled their … Continue reading "Financial reform update for payday lenders"
If you live in Texas, you will be interested in recent legislation submitted by Representative Vicki Truitt, R-Keller, and chairwoman of the House Pension, Investments and Financial Services Committee, who this week introduced a package of legislation reported by the Star-Telegram. The legislation would require lenders to register with the Consumer Credit Commissioner, which could … Continue reading "Payday loan news"