Automatic Overdraft Services Matt Roesly  August 18, 2010 Your bank calls it a "convenient service" and a "safety net". Your bank tells you that with this service it is easy to make sure your debit card transactions are "covered". After looking into a recent offer for Automatic Overdraft Services from a large bank, I had to ask - what is the difference between the fees charged for Automatic Overdraft Services and the fees charged for a payday loan? Consumer advocates have targeted the payday loan industry criticizing payday loans as predatory with fees that equate to usurious interest rates. A number of states prohibit payday loans, other states cap the fees or interest rates allowed on payday loans and the new federal Consumer Protection bureau will be crafting new regulations for the payday loan industry. But a number of commentators believe payday lenders provide critical services to "credit-underserved" consumers who need credit for emergency expenses like a car repair bill, a dental bill or past due rent, credit that is often not available through traditional lenders. Read Article >> Cash for Clunkers - One Year Later Brian Bradley  August 18, 2010 Was Cash for Clunkers a success? It's been a year since the Cash for Clunkers program helped to jumpstart car sales amid the recession. Cash for Clunkers took more than 700,000 used cars out of circulation offering up to $4,500 for a clunker, and this federal program gave consumers an incentive to turn in their old cars and trucks to buy more fuel-efficient new models. The program ended in August 2009 but well into 2010 the effects it had on the auto industry are still being felt and different outcomes are being reported for new car retailers compared to used car retailers. Read Article >> Follow, friend, share NAELB Eastern Regional Meeting September 12 - 13 Atlanta, GA see} Joseph DeJoseph VIADA 50th Anniversary Expo September 16 - 19 Hot Springs, VA see} Randy Mosteller World Consumer Credit Reporting Conference September 26 - 28 Berlin, Germany see} Philip Burgess AICPA Forensic Accounting Conference Sept. 29 - Oct. 1 Boston, MA see} Missy Rogers CAJP Annual Conference October 9 San Jose, CA see} Randy Mosteller What pros and cons do you find when comparing PayDay Loans to Overdraft Services? Do you operate in an industry still feeling the effects of cash for clunkers? How has it affected your business?

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