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Latest Payday Short Term Loans News

Lawmakers Approve Bill Aimed at Curbing Payday Loan Abuse
CARSON CITY, Nev. (AP) – Nevada lawmakers have approved a measure adopting tougher regulations for companies that extend high-interest short term loans. Assembly members voted to approve SB 242 on a unanimous vote on Tuesday. The measure …
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Wonga rolls out revamped payday loans
The lender has updated its payday loan product with features such as freezing balances in arrears after seven days, to protect customers from snowballing interest. Tara Kneafsey, UK chief executive of Wonga, said: “We’re re-presenting our short-term …
Read more on Financial Times

Actual Human Experience Missing from CFPB’s ShortTerm Lending Rules
To review, the Consumer Financial Protection Bureau recently released its proposed rules for short-term small dollar loans, often known as payday loans and auto title loans. Despite the bureau’s repeated insistence that it recognizes the need for such …
Read more on Town Hall

Official: DoD plan might deny troops loan alternatives
“We have done the math and found that when fees are included, many credit unions’ short-term loans would exceed the proposed 36 percent military [annual percentage rate] limit” set by the Military Lending Act, Matz said. Defense officials have proposed …
Read more on Military Times