Tag Archives: Payday loan

Here’s How The Nation’s Two Largest States Plan To Crack Down On Predatory Lending

Posted on May 4, 2015 by The Soul Brother

By Alan Pyke View image | gettyimages.com Predatory lenders thrive in Texas, where regulations are scarce on stores that offer payday advance loans and allow borrowers to put their cars up as collateral for high-cost, short-term credit. But a trio … Continue reading →

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When You’re Poor, Money Is Expensive

Posted on July 15, 2014 by The Soul Brother

_By Derek Thompson Alex was doing the thing he loved most, singing and playing his acoustic guitar onstage when, after one show, he met Melissa. “We kinda hit it off,” Melissa said. “No kinda about it.” Alex corrected. “We just … Continue reading →

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Podcast: How a $1,000 Loan Ballooned into a $40,000 Debt

Posted on December 17, 2013 by The Soul Brother

By Minhee Cho When Naya Burks was strapped for cash five years ago, she borrowed $1,000 from AmeriCash Loans at an enormously high annual interest rate of 240 percent. It wasn’t long before she defaulted on payments and AmeriCash took … Continue reading →

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

Posted on December 13, 2013 by The Soul Brother

By Paul Kiel A version of this story will be published in the St. Louis Post-Dispatch on Sunday. Five years ago, Naya Burks of St. Louis borrowed $1,000 from AmeriCash Loans. The money came at a steep price: She had … Continue reading →

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The Payday Playbook: How High Cost Lenders Fight to Stay Legal

Posted on August 5, 2013 by The Soul Brother

By Paul Kiel As the Rev. Susan McCann stood outside a public library in Springfield, Mo., last year, she did her best to persuade passers-by to sign an initiative to ban high-cost payday loans. But it was difficult to keep … Continue reading →

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On Victory Drive, Soldiers Defeated by Debt

Posted on June 3, 2013 by The Soul Brother

By Paul Kiel and Mitchell Hartman Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded by storefront lenders who charge high annual percentage rates, sometimes exceeding … Continue reading →

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The 182 Percent Loan: How Installment Lenders Put Borrowers in a World of Hurt

Posted on May 14, 2013 by The Soul Brother

By Paul Kiel One day late last year, Katrina Sutton stood at a gas pump outside Atlanta and swiped her debit card. Insufficient funds. But that couldn’t be. She’d been careful to wait until her $270 paycheck from Walmart had … Continue reading →

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Stocks Of Payday Lenders, Pawn Shops Jump As Economy Sputters

Posted on July 11, 2011 by The Soul Brother

Profiting from people’s misfortunes. 😦 The way of the world. Stocks Of Payday Lenders, Pawn Shops Jump As Economy Sputters.

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