Financial News Archives - National PaydayNational Payday

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Financial News Archives - National Payday

CFPB Wages War on Payday Loans; Consumers Disagree

27039220713_d85b4e4e91_zThe federal war against payday loans has been dealt a very damaging blow. Thanks to the Freedom of Information Act, the data collected by the Consumer Financial Protection Bureau (CFPB) has been made public. It shows that by a staggeringly wide margin, people who use payday loans are happy with payday loans.

This proves beyond a shadow of a doubt that the charges leveled by the CFPB are false. Consumers aren’t against these loans: the only people who don’t like them are bank executives! (more…)

Payday Restrictions Target Small Business Owners

2898686447_29a1d676e5_zWho is the CFPB really working for?

The Consumer Federal Protection Bureau is an arm of the Federal government, and claims to be an advocate for American consumers. It claims to want to protect those of us who need it most, from financial predators who seek to fleece them. It claims to be working towards a more stable economy.

But in actuality, none of this is true.

The CFPB is nothing more than an extension of Big Business, working in conjunction with the government to change the laws in a way to drive small business owners out of the market. (more…)

The Other Side of Payday Loan Propaganda

5041329333_3c2d1ed87f_zThis week ABC News posted a troubling story about a retired Marine who was locked into a payday loan cycle of debt. Reportedly, he spent 5 years repaying $50,000 for $2500 worth of loans.

Scandalous! Yes.

Shocking! Yes.

Legit? Possibly, but not for sure. The actual story may be different from the news story. (more…)

The Loan Blog Google Doesn’t Want you to Read

2560882190_c00d4483ce_oQuick, bookmark this site! Hurry hurry, Google is mad and about to ban us! We are not going out of business nor are we moving. We will be right here, where we have been for over a decade.

But Google has decided that businesses like this one – independent lenders who serve the hard working Americans the banks don’t like to deal with – need to be suppressed.

Is this because the massive company is complying with new guidelines put in place by the Consumer Financial Protection Bureau (CFPB)?

Or is it because Google itself backs its own private lender, and doesn’t really enjoy free market competition? (more…)

Celebrating 16 Years of Serving You

16458320406_5867c3fc0e_zThere are hundreds of sites to get online loans.

Hundreds of businesses that want to lend you money. They want your business.

But here is a simple question – how many of those lenders have been in business for 16 years? We couldn’t find any others.

Just us. (more…)

Payday Lending: States Rights vs Federal Control

6058549330_b18c4baf94_zIt has always been a bit of a curiosity that payday loans – the only lifeline available to working class people the banks and credit card companies won’t help – are staunchly opposed by many Democrat politicians.

The Dems want to be the voice of the 99% right? They claim to represent the voiceless and make government help all Americans. But if that is the case, why fight against payday lenders so forcefully? These same politicians who fight private lending usually take great amounts of campaign contributions from large banks and financial institutions. And that is about as far away as “fighting for the little guy” as a politician can get!

So it is a major story when the news broke that Representative Debbie Wasserman Schultz (Democrat, FL) is co-sponsoring a Republican backed bill to delay the attack plan of the government agency the CFPB to put the payday loan industry out of commission. Some Dems are shocked at her actions, and are denouncing her decision… but perhaps the Florida Representative is actually fighting the good fight and standing up for her constituents. (more…)

How Will the New Payday Loan Rules Effect Consumers?

6059832534_04e9456b65_zThe Consumer Financial Protection Bureau (CFPB) recently made public its recommendations for the overhaul of the short term lending industry. It’s one of the strongest attempts to require federal regulation of payday lending, but what does that mean to the people who lean on these loans to get by? (more…)

New Payday Rule Changes Could Rock the Industry

16650179600_63989fa7e4_zAfter weeks of meeting with industry executives and financial advocates, the Consumer Financial Protection Bureau (CFPB) released its proposal for new rules to regulate short-term lending. The rules are sharp and restrictive, and seek to eliminate private lenders altogether.

While these rules are geared towards the payday loan industry, they are broad enough to encompass all forms of short term lending, including deposit advances, car title loans, and higher interest installment loans. If implemented, these rules could favor the big banks by making them the only legal way to lend and borrow in the country. (more…)

The Web as a Part Time Job: 4 Easy Ways to Monetize the Internet

5879389597_0a5544f8e3_zWhat if you could make money without driving to work? Without filling out paperwork, dressing up for an interview, or learning how to work a cash register?

Here are a list of four quick, easy, and FREE ways to start earning money from the comfort of your own home. If you have a laptop, or even a smart phone, you can get set up to start earning money immediately.

If you are already working full-time, you can still use any or all of these means as a way to earn some extra money on the side. It will be the most painless part time job you ever had. (more…)

From Big Time to Jail Time : Top 10 Celebrity Tax Cheats

3285889990_ddd17551b9_zNo one likes paying taxes, not even the rich and famous. Sometimes living an extravagant lifestyle means you don’t have the money – or the inclination – to pay the government its fair share of your riches.

If the IRS has proven anything, it’s that they will go after tax cheats with the ferocity of a pit bull, regardless if you’re a work-a-day Joe, or an Oscar-winning star. (more…)