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A 2012 study by Pew Charitable research found that the majority of payday loans were taken out to bridge the gap of everyday expenses rather than for unexpected emergencies. The study found that 69% of payday loans are borrowed for recurring expenses, 16% were attributed to unexpected emergencies, 8% for special purchases, and 2% for other ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
With a legacy of more than 100 years, the Better Business Bureau (BBB) is the go-to watchdog for evaluating businesses and charities. The nonprofit organization maintains a massive database of ...
The Better Business Bureau just released some good news: In 2011, consumers consulted the BBB far more often than they did the year before, and they lodged fewer complaints. Surely that's a sign ...
If you took out a loan from ACE Cash Express you may be entitled to a refund. ACE Cash Express, a so-called "payday lender," which provides small loans with very high interest rates that must be ...
The average payday loan in the state was for $273, came with an interest rate of 414% and cost $43 if paid back in two weeks, according to a survey by Missouri regulators released last year ...
Scott Tucker ran several payday loan service companies under several different names (including AMG Capital Management) over a fifteen-year period. The companies drew consumer complaints for charging excessively-high interest rates on the loans, with those using their services paying nearly triple what they had taken as a loan, charged through undisclosed fees.