Former Google CIO Raises $73 Million To Reform Payday Loans With Data-Driven …

ZestCash, a company founded by former Google CIO and VP of engineering Douglas Merrill to legitimize the payday loan industry, has raised $73 million round of funding. The company raised $23 million in an equity round led by Matrix Partners. Existing investors Lightspeed Venture Partners, GRP Partners, Flybridge Capital Partners, and Lighthouse Capital Partners also [...]

No Fax Payday Loans Re-Launches With New Educational Resources and Redesigned Site

(PRWEB) January 27, 2012 No Fax Payday Loans is proud to announce the re-launch of its site. The re-launch includes new, free educational resources, a fast online application, and an redesign of the homepage. It is not uncommon for a family to need quick cash at some point, in which case No Fax Payday Loans [...]

CFPB Plans Review of Payday Loan Practices to Help with Debt Relief

The state of the economy has stretched so many Americans beyond their means that the demand for emergency credit and debt relief is skyrocketing. Payday lending has become a $7 billion-a-year industry. And even though some states limit the interest rate lenders can charge and a few states have banned payday loans all together, there [...]

Ky. Voices: Payday lending entraps people

Even after the presents have been unwrapped and the festive candles put away, many Kentucky families will be paying for Christmas for months into the New Year. Those who took out payday loans, paying fees that could equal nearly 400 percent annualized interest, will be paying dearly. We are deeply troubled by the exorbitant and [...]

KC group creates alternative to payday loans

A nonprofit group comprised of Kansas City churches, bankers, lawyers and nonprofit agencies has begun offering an alternative to the payday loan industry for people who need a small amount of quick cash. The group, called Fair Community Credit, this month issued what it hopes will be the first of 500 loans in its first [...]

Suit Filed by AG McDaniel Against Online Payday Loan Providers

LITTLE ROCK (Attorney General Dustin McDaniel) – Attorney General Dustin McDaniel filed a consumer protection lawsuit today against a Missouri man and two companies that control six Internet payday loan websites offering loans to Arkansas consumers at interest rates of more than 600 percent. The Attorney Generals lawsuit claims defendant Josh Mitchem and companies, PDL [...]

Re-Launch of Direct Payday Lender Offers New Features for Consumers in Need of …

(PRWEB) January 28, 2012 The re-launch of Direct Payday Lender has created a new avenue for consumers in need of secure and convenient payday loans. By adding new features, like a bevy of expertly written articles, and redesigning the entire homepage, Direct Payday Lender offers access to the best loans online. In addition to convenience, [...]

Payday lenders face tighter regulations

The government’s Financial Services Bill, which was presented to Parliament today, could see Payday loan companies facing much tighter regulation. Payday loans are designed to provide emergency funds for a short period of time. Amounts of between £50 and £1,000 are offered on weekly or monthly terms for a charge of around £30 for every [...]

Arkansas attorney general sues over payday loans stemming from Kansas City

Arkansas Attorney General Dustin McDaniel filed a lawsuit Monday against a Missouri man whose companies control Internet payday loan websites. The suit claims that defendant Josh Mitchem and his companies, PDL Support LLC and Platinum B Services LLC, control six websites that made payday loans in Arkansas at interest rates that violate its laws. The [...]

Payday loans ‘sucking money’ from poor, say assembly members

Companies that offer short-term loans at high interest rates have been accused of sucking money out of poor communities by Welsh assembly members. The Welsh government was urged to work with councils and voluntary groups to promote alternatives to payday loans. Assembly members expressed concern that it was becoming increasingly easy to borrow money through [...]

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