by Anthony Zhang In October of 2009, House Bill 230 was passed which regulated the availability of payday loans and emergency cash loans for customers in the state of Ohio. When customers are faced with an emergency loan situation, the highlight of this 2009 bill is that it guards customers from possible hidden fees or [...]

by Anthony Zhang In Wisconsin, auto title loans have been booted to the curb and are no longer part of the state’s legislation. On Tuesday, Governor Doyle opted to remove auto title loans from the legislation through a veto that passed on May 18th. Wisconsin residents are left holding the bill and must find alternative [...]

by Anthony Zhang By a slim margin of 1 vote the Colorado Senate passed new limitations on payday Loans.  Having passed the Senate hurdle the bill heads back to the house who are expected to approve this latest version quickly. While supporters of this bill tout that it will help protect vulnerable consumers from growing debt, opponents argue that [...]

by Anthony Zhang This is the time of year when payday loans are in high demand. People around the country have received their tax returns, but have discovered that they money they received from the government just isn’t enough to cover their ongoing bills. The recession, when combined with the kind of economic slowdown we’re [...]

by Anthony Zhang Tax season has hit us again and with it comes the need to get your money as fast as possible.  Many of the tax preparation companies urge their consumers to get their cash instantly using a Refund Anticipation Loan, also known as a RAL. Consumers should be warned to consider the complete [...]

by Andy Rogers An assembly of Wisconsin Democrats have announced a compromise on legislation regulating the payday loan industry in that state. The compromise bill would remove the interest rate cap on payday loans, which industry experts say would make it impossible to loan money in the state.  The new bill instead limits loans to [...]

by Andy Rogers A new law took effect on Monday aimed at protecting South Carolina consumers.  This law specifically targets small dollar, short-term, unsecured loans which would include payday loans and micro-loans. This new law is, in the words of one state representative, “to help protect consumers from themselves.”  The main provision in the law [...]

by Andy Rogers The availability of short-term loans is looking to be in danger thanks to new bills proposed in the state legislature.  Under the guise of protection to consumers, lawmakers look to lower interests rates to the same level as long term loans.  This would drastically cut down on lenders abilities to off-set the [...]

by Andy Rogers The peace of mind Arizona residents felt when they heard their stat would continue to allow short term loans was thrown a curve ball today.  The hearing in the state legislature over allowing payday lenders to continue offering short term loans in the state was delayed after the bill’s sponsor said it [...]

by Andy Rogers Recently, I had a friend tell me he was thinking about taking out a payday loan to use for the next couple days before his next paycheck. I asked what he needed it for and why it was so urgent. It turned out he just wanted it so he could go to [...]