Archive for February, 2012
Comment on Court blocks Colorado AG from investigating tribes' online payday loans
ConservativeProf wrote:Wow. I am impressed. Perhaps there is a way around the onerous nanny state. I think that the tribes may be a reasonable escape from Obamacare. When the impact of price controls and rationing reduces the ability to obtain health care, health care services on the reservations may be a reasonable option. It beats [...]
Calif. county moves to curb payday lending
SAN JOSE, Calif. — A Northern California county has decided to rein in predatory payday loan outfits by imposing a moratorium that prevents more lenders from setting up shop. Santa Clara County supervisors voted on Tuesday to impose the 45-day moratorium while a law is drafted to restrict new payday businesses or permanently ban them. [...]
Hometownstations.com-WLIO- Lima, OH News Weather SportsQ&A on the ECB's emergency bank loans
By The Associated Press The European Central Bank issued its second raft of three-year, low-interest emergency loans to the financial sector, handing out €529.5 billion ($712 billion) to 800 banks on Wednesday. Here are some questions and answers on the latest move to ease the European debt crisis. Q: What are these loans for? A: [...]
European Central Bank makes second round of crisis loans to stabilize euro
The ECB loans, given against collateral such as bonds or other securities, cost banks the average of the ECB’s benchmark rate over the life of the loan. Right now that’s 1 percent. Analysts had expected slightly less uptake than for the first offering. Market response was muted, with the Euro Stoxx 50 index up 0.42 [...]
Preachers Leave Pulpit to Talk Payday Loans
Tweet JEFFERSON CITY – Faith leaders lobbied at the Missouri State Capitol Tuesday to express their concerns with payday loans. Metropolitan Congregations United, or MCU, is one of 75 organizations that spoke in Jefferson City. MCU says the outrageous 444 percent annual percentage rate (APR) on some loans exploits vulnerable people in the state. MCU [...]
AARP Calls for Passage of Bill Reining in Idaho’s Predatory Payday Loan Practices
BOISE, Idaho, Feb. 28, 2012 /PRNewswire via COMTEX/ – Legislation addressing Gem State’s “abusive” payday loan practices by capping interest rates and fully disclosing terms and fees is stalled in Cmt. The lackluster economy hasn’t meant bad news for everyone. In fact, business is booming for Idaho’s payday lenders, who are allowed to offer some [...]
Markets steady as investors await second-round of super-cheap loans from …
LONDON – Stock markets shrugged off another credit rating downgrade of Greece and eked out some modest gains Tuesday as oil prices dipped for the second day running and investors awaited another offering to banks of super-cheap long-term loans from the European Central Bank. With many of the world’s leading indexes back at levels they [...]
Payday Lenders and the OFT Investigation: What This Means for the Borrower and Market
ShareThis Email PDF Print It is the duty of the lenders to ensure that they are accepting loan applications by the right people, i.e. those who are able to repay. Bath (PRWEB UK) 27 February 2012 Friday’s announcement that more than 50 lenders will be investigated by the OFT has been described as ‘necessary and [...]
Inquiry launched into payday loans
The Office of Fair Trading (OFT) has launched an investigation into payday loans. The OFT will look into allegations that payday personal loan lenders prey on those who are vulnerable, such as jobseekers and those dependent on benefits. The watchdog will investigate claims that these loan companies are lending irresponsibly by not carrying out adequate [...]
The Week Ahead: HSBC investors bracedfor bad news on loans
The banks’ reporting season continues with HSBC’s full-year results today, and although Shore Capital’s Gary Greenwood believes the self-anointed “world’s local bank” will have enjoyed strong growth in emerging markets, he says this will be “offset by a reduction in developed markets, largely reflecting a smaller US balance sheet and weaker investment banking revenues”. Given [...]