Why Americans Prefer Payday Loans: A Review

Millions of Americans apply for payday loans every month. For most borrowers, the loans provide relief when they need cash fast in between paychecks. Since the onset of the credit crunch in 2007, the average American household has been struggling to make ends meet. Today it’s common to find people working more than two jobs […]

“Ability to Pay” Is the New Financial Pulse: A CFPB Report

U.S. regulators have implemented new requirements for credit card companies and mortgage lenders. The emphasis is on high cost, short term “payday” loans, which will prevent lenders from issuing loans to borrowers who are unable to afford them. Although the principle is straightforward and logical, it is tough to put into practice, given the business […]