Thousands of documents containing customers' personal and financial data were found intact, unshredded and scattered behind a Money Now payday loan store in Louisville, Kentucky, according to members of a local TV news team.

Boxes of financial records were found by another business owner in the same strip center. The individual who happened upon them immediately alerted the people that he had their information.

"It's my name, it's my social security number, it's my address," said an unnamed and upset woman whose personal information was discovered in a dumpster behind the payday cash loan store.

The news crew discovered more documents in the dumpster, some of which contained people's personal and financial info., such as their social security and bank account numbers. Employees at Money Now began picking up the documents after reporters showed up.

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After months of speculation, the Oregon Legislature offically put a cap on payday loans last month - but those restrictions won't go into effect until July 2007. In the meantime, the Beaverton City Council is thinking about joining cities such ass Portland in making rules against extreme fast payday loan lending.

Portland's law, for example, allows borrowers to more easily revoke online cash loans and set up an optional payment plan. Beaverton Mayor Rob Drake said the council might not be able to adopt an ordinance until August, but several council members urged city staff to act quickly so the city can adopt an ordinance next month.

The technological world is about to pay off for those interested in online auctions. Now that MEM Consumer Finance Ltd. has joined forces with “Search and Auction” Site, www.huntforit.co.uk, payday loans will be easily acquired by those in immediate need of them.

Payday UK has created a new “ability to spend” system for users of the new Hunt For It site. This system allows people bidding on theauction items available through to apply directly for an instant cash loan without leaving the bid site. It's invaluable if you need that extra money to secure the item of your dreams.

Nick Auchincloss, Head of Corporate Development for MEM said:

“Both MEM with our payday loan products and “Hunt For It” with their revolutionary search and bid system are growing businesses with a great technological set up. By working together, we can open avenues to the consumer that previously would have been non-existent.

The technology behind this payday loan online approval system means that customers are normally approved and have their funds deposited on the same day of application. This gives them peace of mind that they can make that additional purchases without it impacting their existing financial arrangements.

Thanks to the short duration of such a faxless payday loan, individuals can just pay it back on their next pay day; they won't keep paying for their item three years later like a credit card.

The Canadian payday loan industry just keeps getting more and more turbulent. The Nova Scotia Registrar of Credit has ruled that Cash Store appears to have violated the Criminal Code by charging more than 60 percent annual interest, the bureau reported after wrapping up a six-month investigation.

The investigation resulted from a November 2005 complaint filed by William McFadden about a particular Cash Store location in Amherst, Nova Scotia. The Registrar determined that Cash Store charged borrowers a default fee (deemed an administration charge), but did not deduct the fee from the amount owed when the payday advance loan was paid on time or early.

In a March 28 letter to the company that was never made public, Registrar officials state that when all fees were calculated, the rate of interest charged to McFadden was 395.18 percent, in violation of the Criminal Code. McFadden is but one of many victims of this alleged quick cash advance over-charging.

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The British Columbia government is ready to regulate the payday loan industry. It's anxious to get started … but wants the federal government to act first.

Solicitor-General John Les told The Province that Ottawa needs to change the Criminal Code to enable B.C. to bring forward legislation.

"We are ready to go, as soon as the federal government delegates the appropriate authority," said Les. "Until that time, there is very little the province can do. Clearly, we want to tighten up the regulation of the payday loan industry so it is more transparent."

Yesterday, NDP MLA Rob Fleming (Victoria-Hillside) introduced a private member's bill into the B.C. Legislature in order to regulate the payday advance field. The Payday Lending Act sets a number of rules for the industry. It's meant to boost consumer rights.

"It is not uncommon for consumers to pay in excess of 300 percent interest on a one- or two-week [payday] loan," said Fleming."I certainly hope the Campbell government will support bill."

The proposal includes:

• A ban on the taking of security, including assignment of wages
• Plain language rules so the cash advance lender must clearly inform the borrower
• Lender to post signs setting out the cost of credit for a payday loan
• Borrowers having the right to cancel the quick cash loan within 48 hours of the first advance
• The right to a refund if the borrower was overcharged

Need another sign that the payday loan business is booming? Despite being outlawed in certain states, the cash advance industry is experiencing rapid popularity growth. A strong indicator of this fact is the growing demand for LeadClick Media.

This San Francisco-based internet lead generation firm is a pioneer of performance-based, cost-per-action marketing solutions. It reports that lender demand for its marketing services that generate online payday loan leads is reaching a fevered pitch.

LeadClick Media has helped payday loan lenders expand their business in order to serve those customers who need emergency, faxless payday loans, but may have too much pride to enter a traditional brick and mortar check cashing store.

"The convenience and anonymity of the Internet application process for a [faxless] payday loan has opened up a new segment of the U.S. population that can benefit responsibly from cash advance loan services" says Robert Afshar.

Fueled by the economy, a gap in traditional lending services and savvy marketing that leverages the consumer trend to conduct financial business online, micro loans (a.k.a., payday advances and payday loans) have nearly quadrupled in the past four years to a $40 billion industry. According to a Marketdata Enterprises report, the payday loan industry serves more than a quarter of the U.S. population. This phenomenon is a result of a growing number of people who require periodic financial assistance and a new generation of lenders who can meet that demand.

In this increasingly competitive playing field, no faxing payday loan lenders depend on LeadClick Media to provide internet marketing and advanced payday loan lead generation that attracts the people that would most likely benefit from these services.

"Since 2002, LeadClick Media has served our clients needs for advanced online marketing strategies that produce targeted, highly qualified new payday loan leads (customers)" said Afshar.

Most people are familiar with Craig's List. If you need a new couch, peruse the site! Looking for an apartment? Sign on today? Hoping to apply for a faxless payday loan? You've come to the right place!

There's just one problem with the last item listed: cash advances are illegal in many states. For instance, over 40 ads were on the site last week for payday cash advance providers in Massachusetts. According to the Division of Banks, however, payday loan lending isn't permitted in the state.

It plans on punishing violaters, but this strategy for circumventing the law is a difficult one to track. Anyone can just sign online and take out a cash loan. It's an issue worth keeping your eye on.

Continuing a flurry of news involving the turbulent Arizona payday loan industry, the Ahwatukee Foothills Village Planning Committee rejected the plan by Phoenix to limit the number of payday loan centers in the city, according to the Arizona Republic.

The committee voted against the proposed ordinance that would have changed the zoning ordinance to spread the businesses out, despite the fact that the number of payday advance centers in Ahwatukee can be counted on one hand. Members felt the code was the wrong way for the city to address concerns about cash loan stores, and that Phoenix had not worked hard enough with the industry on a compromise.

Phoenix launched an initiative late last year to restrict the number of faxless payday loan and check cashing businesses, with city planners looking for a buffer of 1,320 feet between such establishments and a 500-foot zone between the businesses and residential districts.

Several cities in Arizona (including Tempe and Tucson) have passed similar ordinances.

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Michael Thompson is president of the Canadian Payday Loan Association. He recently wrote an article for The Hamilton Spectator expressing his view on his country's responses to these resources. Let's take a look at what he has to say …

Canada is one of the few countries in the world that doesn't regulate payday loans. As a result, the industry operates in a legal vacuum - and consumers are unprotected from its bad apples.

The Canadian Payday Loan Association has worked with federal and provincial governments to implement regulations for all payday advance lenders. We now see signs that governments are moving in the right direction. Federal Minister of Justice Vic Toews said last month that he would "seriously consider" a proposal by the government of Manitoba to quickly regulate the growing payday loan industry.

Manitoba has figured out faster than other governments that faxless payday loans are moving into the financial services mainstream. About two million Canadians now use a cash loan every year and more than 80%, according to a poll by Environics Research, are satisfied with the service. More Canadians have access to payday loans than ever before.

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As the Illinois legislature debates the issuse of payday loans, an ordinance to extend the moratorim on issuing cash advances was approved last week by City Council members.

There are approximately 10 Calmuet City companies in the area offering these fast cash loans - they'll now have to wait another six months before they can conduct their business. Third Ward Alderman Thaddeus Jones said the moratorium was extended because the city would like to see a wide variety of businesses open in the city and not just certain kinds that may target specific areas.

State Rep. David Miller, D-Calumet City, said Gov. Rod Blagojevich signed a bill in June 2005 regulating payday loan companies. The bill, sponsored by Miller, aims to protect customers from the payday loan industry.

Prior to the reform act, these lenders could charge up to 1,000 percent interest on loans. There is now an established payday advance limit based on income and outstanding debt. Borrowers will be limited to loans of $1,000, or 25 percent of their gross monthly income.

Miller said the bill dealt with regulations within the cash loan industry - but said local municipalities should have the right to determine what kind of businesses are opening in their cities. He said while there is a place for payday loan businesses, smart growth involves having a mixture of businesses in a community.

The legislation also limits time repayment to 45 days and interest to 15 percent per $100 borrowed. Jim Gigliotti, Calumet City community economic development coordinator, said residents should be leery of payday loan businesses.

"They are loan sharks," Gigliotti said, adding that no faxing payday loans hurt the people who are seeking help. "These people are being charged exorbitant amounts of income … by the time they get their paychecks, there is nothing left."