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Committee approves payday loan regulation

Committee approves payday loan regulation
MONTGOMERY, Ala. (AP) – An Alabama House committee on Wednesday approved new restrictions on payday loans that short-term lenders can offer to consumers in need of quick cash. Republican Rep. Danny Garrett, R-Trussville, said the loans “trap …
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Money Shop set to overhaul price of its loans after payday crackdown
The cap ensures no short-term borrower pays more than £24 for a £100 month-long loan in interest, and no more than £200 in total charges and fees. The FCA expects the new rules to wipe out all but a handful of large lenders and has left even the …
Read more on Telegraph.co.uk

Payday loans: Predatory loan sharks or crucial fix in a pinch?
Payday lenders, such as National Money Mart Co., Cash Money and Cash 4 You Corp., have proliferated in Canada since the industry – which offers short-term, small-sum loans – began in the mid-1990s. Today, the sector has more storefronts and online …
Read more on The Globe and Mail (subscription)