Payday advance lending continued its rapid growth in Colorado last year, jumping 28 percent to $632 million.Regular and online payday loans first topped the $500 million mark in 2005, when they grew 34 percent. The industry was as small as $36 million of loans in 1996. (Read on …)
Companies that make money providing faxless payday loans have formed an organization they say is designed to “reform” their industry. (Read on …)
The Federal Deposit Insurance Corporation (FDIC) is now accepting bankers’ applications to participate in its Affordable and Responsible Consumer Credit pilot program, which will begin in January 2008. (Read on …)
A new report out of British Columbia says the typical payday advance loan customer is employed and educated with an average income. (Read on …)