Houston Payday lenders are by definition predatory no matter how they try to spin the story. Driving in torrential, blinding rains yesterday from Dallas to Houston, I listened to an ad from ACE Cash Express offering “free” loans of up to $1500 for 30-days supposedly without any interest or fees. ACE Cash Express just settled …
Tag: payday loans
Predators Cashing in on the Wild West of the Internet
New Orleans The on-going fight against predatory and payday lenders is becoming a whack-a-mole operation. Every time we put a cap on them in one state or province or another, too many of them just jump on the internet and charge whatever they want wherever they want, including of course places where such charges are …
Payday Lending is All About the Pyramiding the Loan, not the Payday
Little Rock With the admissions that the bigger-than-God-and-government banks are skimming gazillions in profits from predatory payday loans, some welcome sunlight is shining on the dark caves of financial services for workers trying to stretch the money to make the month or deal with emergencies. The Pew Research Center released a report on some of the …