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On July 1, 2010, a law exempting payday loan companies from the 36% cap expired. [32] State Attorney General Terry Goddard initiated Operation Sunset, which aggressively pursues lenders who violate the lending cap. The expiration of the law caused many payday loan companies to shut down their Arizona operations, notably Advance America. [33]
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 ...
Payday loans. Also called a cash advance, a payday loan doesn’t require collateral and may offer you cash on the same day you apply. You’re required to repay the loan — plus high interest ...
Payday loans are an easy way to get cash, but they have sky-high interest rates. ... While payday loans are easy to access fast cash, they are also costly. Most come with triple-digit interest ...
In 2012, the firm acquired Cash and Cheque Express, a consumer financial services chain in the United Kingdom. [5] In 2013, the firm acquired Great American Pawn and Title and Quick loans, both based in Georgia, plus Great American Cash Advance and Nations Quick Cash Title Pawn, which operate in Mississippi, Alabama, and Tennessee. [6]
Payday loans are an easy way to get cash, but they have sky-high interest rates. ... While payday loans are easy ways to access fast cash, they are also costly. Most come with triple-digit ...
The Consumer Financial Protection Bureau says the average payday loan is $320, but the average interest for that loan is $520. Today, payday loans have been largely replaced by cash advance apps.
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