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Tag: Payday Loans


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When Lenders Sue, Quick Cash Can Turn Into a Lifetime of Debt

High-cost lenders—the makers of payday, auto-title and installment loans—exploit laws tipped in their favor to sue tens of thousands of Americans every year. The shocking result? A $1,000 loan grows to $40,000.

Posted on Dec 13, 2013 READ MORE



Flickr/Thomas Hawk

How Payday Lenders Bounce Back When States Crack Down

In 2008, payday lenders suffered a major defeat when the Ohio legislature banned high-cost loans. That same year, they lost again when they dumped more than $20 million into an effort to roll back the law: The public voted against it by nearly two-to-one. But five years later, hundreds of payday loan stores still operate in Ohio, charging annual rates that can approach 700 percent.

Posted on Aug 6, 2013 READ MORE



Flickr/Thomas Hawk

Big Banks Have Found Another Way to Rip You Off

Meet the major banks’ newest partner: payday lenders, the owners of those check cashing stores that offer short-term loans with interest rates that sometimes exceed 500 percent.

Posted on Feb 24, 2013 READ MORE


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Posted on Nov 28, 2012 READ MORE


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