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Legislation that would cap interest rates in New Hampshire would “put us out of business in New Hampshire,” said Jamie Fulmer, director of investor relations for Advance America, the nation’s and the state’s leading payday lender. The payday loan industry which secures short-term small loans with a check as collateral didn’t exist before 1999 in […]

Pete Koneazny, litigation director for Legal Aid Society in Milwaukee, said his client had so many payday loans that he was paying off one to pay off the other. The client had between 12 and 20 loans, said Koneazny, who has communicated with about 50 clients from Milwaukee County over the last 2 1/2 years […]

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Sparring at a luncheon sponsored by the Columbus Metropolitan Club, Dever and Faith foreshadowed what is likely to be a lively legislative debate over a pair of payday lending bills. Based on a report by his group, Faith said the average payday borrower took out more than 12 loans last year, and 90 percent of […]

An Oregon law effective in July, which limits fees and interest on the company’s short-term loans, makes the 45 centers in that state unprofitable, Advance America announced this week. The company is closing 31 of its 98 centers in Pennsylvania after a judge in July ordered the company’s subsidiary in the state to cease operations […]

A s a result of a special exception to the usury laws of Virginia, payday lenders have flourished in the commonwealth of Virginia. Now that payday lending practices have been with us for a few years, we have statistical information that shows the high cost of taking out a payday loan. Even former payday store […]

COLUMBUS, Ohio (AP) - A report released today says more than 300,000 Ohioans are trapped in a cycle with payday lenders. The report from the Ohio Coalition for Responsible Lending says Ohio residents pay more than $318 million in payday loans each year. The group supports proposed legislation that would cap lending companies’ annualized rate […]

Pahrump Regional Planning commissioners last Wednesday night weren’t enthusiastic about approving a zone change for the Dollar Loan Center at 321 Frontage Road, but conceded they were bound to consider only zoning issues. Dollar Loan Center will refurbish the building that formerly housed Frantec Motor Sports and Audio, an auto-customizing service, into a 1,545 square-foot […]

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