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Lending

Welcome to the News View for "Lending".

Here, on these archive pages, you'll find all of the articles on Payments News for Lending listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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May 28, 2013

Headline News - May 28, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

October 01, 2010

BillFloat and Credit.com Partner to Offer Better Way To Pay Bills

billfloat_logo_140px.pngBillFloat, a provider of small-dollar loans for bill payment, and Credit.com, a credit education company, and will announce a strategic partnership next week at Finovate 2010. BillFloat will be featured alongside Credit.com tools, consumer credit news, a selection of credit cards, credit scoring products, and credit product reviews.

"In contrast to payday lenders that have encountered resistance from regulators for high cost lending practices, BillFloat’s solution embraces the FDIC’s Small Dollar Loan Template. "

February 08, 2006

LoanBack - A Finance 2.0 Company

Here's another new approach to democratizing consumer finance: LoanBack, launched back in December. LoanBack takes a much simpler approach than Zopa and Prosper.com - LoanBack is designed primarily for documenting friends and family lending.

READ MORE »

January 04, 2005

Instant Credit Means Instant Identity Theft

MSN Money's Bob Sullivan writes about the risks of instant credit and identity theft, calling instant credit an "equal opportunity nightmare."

"Immediacy is the enemy of accuracy,” says Marty Abrams, former executive at credit bureau Experian Corp., and now an analyst with Hunton & Williams.  “ID thieves are successful because we have a marketplace based on immediacy. We can’t move away from instant credit but it is the enemy of good authenticity.”

January 11, 2004

Payday Loans - Forever in Debt

Kathy Kristof reports in this morning's Los Angeles Times on payday lenders.

The payday lending industry, virtually nonexistent a decade ago, accounts for roughly $25 billion annually in loans, according to a recent study. More than 90% of payday loans are made to repeat borrowers such as Monti, whose short-term cash crisis was only worsened by the quick fix.

The article goes on to say:

The typical annual effective percentage rates on payday loans range from 391% to 443%, according to a study (PDF) released last month by the Center for Responsible Lending. Payday lenders get around state usury laws by characterizing the cost as a fee rather than an interest rate.

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