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Payday lenders starting to close after voters limit interest rates - FOX31 Denver


FOX31 Denver

Payday lenders starting to close after voters limit interest rates
FOX31 Denver
DENVER -- Proposition 111, which passed in Colorado during the 2018 midterm election, caps interest rates from Payday lenders at 36 percent. Currently the average payday lending loan in Colorado has an interest rate in Colorado of 129%.

4 Ways to Get Cash Before Colorado Caps Payday Loans - Newsmax


Newsmax

4 Ways to Get Cash Before Colorado Caps Payday Loans
Newsmax
As a result of the recent election, Colorado payday lenders will be capped at interest rates of 36%, and other loan charges and fees will be eliminated. Residents of Colorado voted on Proposition 111 with 77% approval, according to the unofficial ...

Churches use political pressure, small-dollar loans to fight predatory payday lending - National Catholic Reporter


National Catholic Reporter

Churches use political pressure, small-dollar loans to fight predatory payday lending
National Catholic Reporter
An estimated 12 million Americans each year borrow money from stores offering "payday loans," billed as a cash advance to tide workers over until their next paycheck. The vast majority of borrowers, research compiled by finder.com states, are 25 to 49 ...

Merchant cash advances — salvation for small businesses or payday lending reincarnate? - Yahoo Finance


Yahoo Finance

Merchant cash advances — salvation for small businesses or payday lending reincarnate?
Yahoo Finance
That phone call hearkens back to a different age in America, one in which unregulated loans sharks preyed upon desperate borrowers, and the system provided no refuge or assistance. But that phone call wasn't recorded 100 years ago. It was recorded in ...

and more »

Tribune editorial: Utahns are getting wise to payday lending - Salt Lake Tribune


Salt Lake Tribune

Tribune editorial: Utahns are getting wise to payday lending
Salt Lake Tribune
The Utah Department of Financial Institutions released its annual report on “non-depository lenders,” which includes check-cashing stores, payday lenders and title loan companies. It appears Utahns are not walking into those businesses as much as they ...

Average Utah payday loan interest rate rises to nearly 528% annually — double what Mafia loan sharks charged in the ... - Salt Lake Tribune


Average Utah payday loan interest rate rises to nearly 528% annually — double what Mafia loan sharks charged in the ...
Salt Lake Tribune
The annual report by the Utah Department of Financial Institutions also has encouraging news about payday loan customers: They are borrowing less, and 1 in 8 now take advantage of state-mandated programs that allow them to enter into interest-free, ...

Colorado election: Proposition 111, capping interest on payday loans, passes - The Coloradoan


The Coloradoan

Colorado election: Proposition 111, capping interest on payday loans, passes
The Coloradoan
Colorado's payday lenders will face more limitations after passage of Proposition 111 on Tuesday. Proposition 111 caps the annual interest rate on payday loans at 36 percent and eliminates other finance charges and fees. The law takes effect Feb. 1.
Alternatives expected to sprout up now that Colorado payday lenders are cappedThe Denver Post
Colorado voters approve 36% interest cap on payday loansAmerican Banker
Colorado Proposition 111, Limits on Payday Loans, Has PassedColorado Public Radio
KOAA.com Colorado Springs and Pueblo News -Boulder Daily Camera
all 49 news articles »

Advance pay service may reduce use of payday loans - ABC News


Advance pay service may reduce use of payday loans
ABC News
Americans take out roughly $50 billion in payday loans a year, each racking up hundreds of dollars in fees and interest. But a small and growing service that allows its users to take an advance on their paycheck might be giving the payday loan industry ...

and more »

'Astronomical and unaffordable': Payday loans get low-cost competition - Minnesota Public Radio News


'Astronomical and unaffordable': Payday loans get low-cost competition
Minnesota Public Radio News
Research indicates that 4 in 10 American adults don't have the money to pay for a sudden, unexpected expense of just several hundred dollars — like a car repair. The solution is often a payday loan. That's an expensive way to borrow money, because ...

and more »

Minnesota sees rise of payday loan alternatives - Sacramento Bee


Sacramento Bee

Minnesota sees rise of payday loan alternatives
Sacramento Bee
Sky-high interest payday loans are getting some more affordable competition in the Twin Cities area from community-based organizations. Exodus Lending is one nonprofit offering residents interest-free loans to help pay off debts, Minnesota Public Radio ...

and more »

This RSS feed URL is deprecatedThis RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Payday lenders starting to close after voters limit interest rates - FOX31 Denver


FOX31 Denver

Payday lenders starting to close after voters limit interest rates
FOX31 Denver
DENVER -- Proposition 111, which passed in Colorado during the 2018 midterm election, caps interest rates from Payday lenders at 36 percent. Currently the average payday lending loan in Colorado has an interest rate in Colorado of 129%.

4 Ways to Get Cash Before Colorado Caps Payday Loans - Newsmax


Newsmax

4 Ways to Get Cash Before Colorado Caps Payday Loans
Newsmax
As a result of the recent election, Colorado payday lenders will be capped at interest rates of 36%, and other loan charges and fees will be eliminated. Residents of Colorado voted on Proposition 111 with 77% approval, according to the unofficial ...

Churches use political pressure, small-dollar loans to fight predatory payday lending - National Catholic Reporter


National Catholic Reporter

Churches use political pressure, small-dollar loans to fight predatory payday lending
National Catholic Reporter
An estimated 12 million Americans each year borrow money from stores offering "payday loans," billed as a cash advance to tide workers over until their next paycheck. The vast majority of borrowers, research compiled by finder.com states, are 25 to 49 ...

Merchant cash advances — salvation for small businesses or payday lending reincarnate? - Yahoo Finance


Yahoo Finance

Merchant cash advances — salvation for small businesses or payday lending reincarnate?
Yahoo Finance
That phone call hearkens back to a different age in America, one in which unregulated loans sharks preyed upon desperate borrowers, and the system provided no refuge or assistance. But that phone call wasn't recorded 100 years ago. It was recorded in ...

and more »

Tribune editorial: Utahns are getting wise to payday lending - Salt Lake Tribune


Salt Lake Tribune

Tribune editorial: Utahns are getting wise to payday lending
Salt Lake Tribune
The Utah Department of Financial Institutions released its annual report on “non-depository lenders,” which includes check-cashing stores, payday lenders and title loan companies. It appears Utahns are not walking into those businesses as much as they ...

Average Utah payday loan interest rate rises to nearly 528% annually — double what Mafia loan sharks charged in the ... - Salt Lake Tribune


Average Utah payday loan interest rate rises to nearly 528% annually — double what Mafia loan sharks charged in the ...
Salt Lake Tribune
The annual report by the Utah Department of Financial Institutions also has encouraging news about payday loan customers: They are borrowing less, and 1 in 8 now take advantage of state-mandated programs that allow them to enter into interest-free, ...

Colorado election: Proposition 111, capping interest on payday loans, passes - The Coloradoan


The Coloradoan

Colorado election: Proposition 111, capping interest on payday loans, passes
The Coloradoan
Colorado's payday lenders will face more limitations after passage of Proposition 111 on Tuesday. Proposition 111 caps the annual interest rate on payday loans at 36 percent and eliminates other finance charges and fees. The law takes effect Feb. 1.
Alternatives expected to sprout up now that Colorado payday lenders are cappedThe Denver Post
Colorado voters approve 36% interest cap on payday loansAmerican Banker
Colorado Proposition 111, Limits on Payday Loans, Has PassedColorado Public Radio
KOAA.com Colorado Springs and Pueblo News -Boulder Daily Camera
all 49 news articles »

Advance pay service may reduce use of payday loans - ABC News


Advance pay service may reduce use of payday loans
ABC News
Americans take out roughly $50 billion in payday loans a year, each racking up hundreds of dollars in fees and interest. But a small and growing service that allows its users to take an advance on their paycheck might be giving the payday loan industry ...

and more »

'Astronomical and unaffordable': Payday loans get low-cost competition - Minnesota Public Radio News


'Astronomical and unaffordable': Payday loans get low-cost competition
Minnesota Public Radio News
Research indicates that 4 in 10 American adults don't have the money to pay for a sudden, unexpected expense of just several hundred dollars — like a car repair. The solution is often a payday loan. That's an expensive way to borrow money, because ...

and more »

Minnesota sees rise of payday loan alternatives - Sacramento Bee


Sacramento Bee

Minnesota sees rise of payday loan alternatives
Sacramento Bee
Sky-high interest payday loans are getting some more affordable competition in the Twin Cities area from community-based organizations. Exodus Lending is one nonprofit offering residents interest-free loans to help pay off debts, Minnesota Public Radio ...

and more »