Month: July 2021

Payday loans plummeted during pandemic, but Californians ‘not off the hook’ – Santa Cruz Sentinel

Pandemic government aid may have helped some Californians avoid using expensive payday loans last year, but some experts say it may be too early for celebration. A new report found that in 2020, California saw a 40% drop in payday loans taken out compared to 2019, a drop equivalent to $1.1 billion. Nearly half a […]

Payday loans plummeted during pandemic, but Californians ‘not out of the woods’

There is a decrease in CA’s reliance on payday loans from government assistance related to the pandemic. But this use of payday loans is expected to rebound. Government pandemic aid may have helped some Californians avoid resorting to expensive payday loans last year, but some experts say it may be too early to celebrate. A […]

Some banks now offer personal loans with rates below 3%. Should you apply?

MarketWatch has highlighted these products and services because we believe readers will find them useful. We may earn a commission if you purchase products through our links, but our recommendations are independent of any compensation we may receive. In 2020, about 19.4 million Americans had a personal loan, according to LendingTree. This is probably due, […]

Manchester council vows to crack down on ‘scourge’ of city payday lending companies

Manchester council has pledged to fight payday loan companies opening new stores on the city’s main streets. A motion to tackle the “scourge” of companies offering short-term loans with “punitive” interest rates received unanimous support from councilors on Wednesday. The bosses of the town hall will now take measures to prevent companies or individuals from […]

Oportun Expands Secured Personal Loan Product to Florida

SAN CARLOS, Calif., July 13. Oct. 2, 2021 (GLOBE NEWSWIRE) — Oportun Financial Corporation (“Oportun”), a financial services company and digital platform that provides hard workers with responsible, affordable and credit-generating alternatives to payday and auto Title Loans, today announced that it is expanding its secured personal loan product to the State of Florida. Oportun’s […]

Oportun Expands Secured Personal Loan Product to Florida

SAN CARLOS, Calif., July 13. Oct. 2, 2021 (GLOBE NEWSWIRE) — Oportun Financial Corporation (“Oportun”), a financial services company and digital platform that provides hard workers with responsible, affordable and credit-generating alternatives to payday and auto Title Loans, today announced that it is expanding its secured personal loan product to the State of Florida. Oportun’s […]

More states impose interest rate caps on payday loans

By Annie Millerbernd | Nerdwallet Low-cost, short-term lenders, unencumbered by a maximum federal interest rate, can charge borrowers rates of 400% or more on their loans. But more and more states are reducing that number by setting ceiling rates to curb high-interest lending. Currently, 18 states and Washington, DC, have laws that limit short-term loan […]

Wells Fargo at AX Personal Loans Helping Pay Off Debt Affecting Thousands of Customers

WELLS Fargo is set to cut loans known as personal lines of credit in a move affecting thousands of troubled customers. Loans, typically valued between $ 1,000 and $ 100,000, are often used to help pay off debt or to avoid overdraft charges on checking accounts. 1 Wells Fargo to phase out loans known as […]

Why payday loans are dangerous

Agence_Sud / Getty Images It is difficult to find yourself in a situation where you need money immediately, but you are not alone. In fact, 42% of millennials have used methods such as payday loans to manage their debt, according to a study by the Global Financial Literacy Excellence Center at George Washington University. See: […]

Are government interest rate caps an automatic gain for borrowers? Payday Loans Minnesota Illinois Chicago Email

Low-cost, short-term lenders, unencumbered by a maximum federal interest rate, can charge borrowers rates of 400% or more on their loans. But more and more states are reducing that number by setting ceiling rates to curb high-interest lending. Currently, 18 states and Washington, DC, have laws that limit short-term loan rates to 36% or less, […]

Google Pay Enables Online Loans For Small Businesses, In Partnership With The FlexiLoans Digital Loan App

Credit and Financing for MSMEs: FlexiLoans said it was the first lender to go live on the Google Pay platform. The company said it has disbursed unsecured business loans worth over Rs 1,000 crore over the past four years and has access to over 5 million MSMEs nationwide. Credit and finance for MSMEs: Google’s payment […]

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