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Matthew Vitko  June 25, 2010
Payday loans, small-denomination, short-term loans against a person's next paycheck, as well as other alternative financial products have been targeted in the new financial reform bill - just passed the Conference committee in Congress on Wall Street reform. Although the details of new payday loan regulations will be in the hands of the new Bureau of Consumer Financial Protection, it seems likely those regulations will have a significant impact on the alternative financing landscape.
Payday loans became popular in the last twenty years as a way to help borrowers cover expenses until the borrower receives his/her next paycheck. Payday loans can be a lifeline for people who don't have access to credit cards or savings and are a preferred alternative for many consumers instead of paying steep bank charges for a bounced check or an overdue credit card.
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Walt Wojciechowski June 25, 2010
In a recent study by the Political & Economic Research Council (PERC) on the impact of credit reporting of payment data on the consumer, PERC found significant benefits for companies that report their payment data to a consumer reporting agency (CRA).
From the Consumer Perspective, PERC found that 1.) consumers confirmed that credit reporting alters their payment behavior and 2.) that many consumers are unaware of what payments are reported.
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ACA International
Annual Convention
July 11-14
Washington, D.C.
see} Kyle Duncan |
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GIADA 55th Annual
Convention & Trade Expo
July 15-17
Lake Lanier Islands, GA
see} Dave King |
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AIADA State Convention
July 22-25
Panama City Beach, FL
see} Randy Mosteller |
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Carolina IADA
Annual Convention
August 5 - 8
Myrtle Beach, SC
see} Randy Mosteller |
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NAELB
Eastern Regional Meeting
September 12-13
Atlanta, GA
see} Joseph DeJoseph |
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