Archive for April, 2008

Lack of usury law, legalized check kiting fuel payday lending

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But the market didn’t create payday lending; the government did. As a matter of fact, the success of legalized loan sharking in South Carolina can be attributed to two critical, mistaken, decisions by our Legislature: the repeal of the …
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Wednesday, April 30th, 2008

Student Lending Bill Passes in Congress

Jeff
In an effort to avert a potential student-lending crisis, the House of Representatives passed the HR 5715 bill on April 17, to guarantee students and their parents continued access to federal student loan programs. …
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Wednesday, April 30th, 2008

Is Bank of America headed towards principal reductions?

DaytonOS
Reader Paul (big hat tip to him) pulled a key comment out of the B of A press release issued earlier this week that addressed Bank of America’s efforts to help homeowners keep their home. The comment, burried at the bottom of the …
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Wednesday, April 30th, 2008

Payday Lending, Part III: Will loan caps bring the return of the …

Jeff
Today, that same letter could easily be written, only with the words “payday lending store” in place of “loan shark.” That stated, a payday lending company may telephone a home relentlessly, trying to get their money back and then some. …
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Wednesday, April 30th, 2008

Lending a voice

unknown
The last decade has had a big impact on local poet and playwright Lucas Smiraldo. From events like 9/11 and the war in Iraq, Smiraldo has had a lot to write about. And coming to Theatre on the Square May 2, his words will be put on …
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Wednesday, April 30th, 2008

Ohio Senate cracks down on payday lending

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COLUMBUS — One of the nation’s strictest proposed crackdowns on payday lending cleared the Ohio House Wednesday, backed by Republicans and Democrats who believed the protection of consumers would far outweigh job losses should the …
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Wednesday, April 30th, 2008

More details on Ohio payday lending action

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After months of debate over bills that were backed by either the payday industry or consumer advocates, the proposal that passed the House 69-26 is a victory for the Ohio Coalition for Responsible Lending, which pushed to lower the …
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Wednesday, April 30th, 2008

Federal Reserve cuts lending rate slightly

Aaron Marshall
WASHINGTON (UPI) — The US Federal Reserve cut the rate banks used to loan each other money by 25 basis points to 2 percent, a bank release announced Wednesday.
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Wednesday, April 30th, 2008

Thanks TO FishBait AKA Advanced Lending.

Dave Harding, ProgressOhio
If nothing else just hear him out, compare and choose. Your call but we are clients for as long as Steve is in business. Cheers and Tight Lines to Advanced Lending and Steve I hope My fish is bigger than Yours!!!! Jim Keepers …
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Wednesday, April 30th, 2008

House lawmakers pass one of toughest caps on payday lending

vreaa
One of the nation’s strictest proposed crackdowns on payday lending cleared the Ohio House Wednesday, backed by Republicans and Democrats who believed the protection of consumers would far outweigh job losses should the industry shut …
Read the rest of this great post here

Wednesday, April 30th, 2008