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Updated on Friday : July 30, 2010

 

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Illinois Considering Small Loans Bill, Reports AboutPaydayLoan.com
As our payday loan states article published on June 21st reported, Illinois governor Pat. Quinn, signed State Law HB 537, which is a bill that supposedly closes a loop hole in that State's 2005 Payday Loan Act.
Andrea Kovach: Payday Lenders Beware: Financial Reform Law Promotes Alternative Small Dollar Loans
The Dodd-Frank Act, signed into law by President Obama on July 21, has the potential to significantly increase the number of affordable small-dollar loans available to consumers.
Payday lender battles fee limit in court
Manitoba's crackdown on payday loan shops has hit another snag: A quick-cash company has asked a federal judge to quash new provincial caps on fees and interest rates.
Seniors need protection from payday loans
Over the years, Ive met too many people who were stuck in a hellish payday loan cycle, rolling one loan into another until the fees and outstanding balance crushed them.
With payday loans, poor get the loans, firms get the payday
On July 2, a 74-year-old Dallas widow named Yvonne Sands received her monthly Social Security check of $1,360. Shortly after 7:30 a.m., she withdrew money from the bank and drove off to renew four payday loans with annual percentage rates of about 250 percent to more than 300 percent.