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The Better Business Bureau just released some good news: In 2011, consumers consulted the BBB far more often than they did the year before, and they lodged fewer complaints. Surely that's a sign ...
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
With a legacy of more than 100 years, the Better Business Bureau (BBB) is the go-to watchdog for evaluating businesses and charities. The nonprofit organization maintains a massive database of ...
While designed to provide consumers with emergency liquidity, payday loans divert money away from consumer spending and towards paying interest rates. Some major banks offer payday loans with interest rates of 225 to 300 percent, while storefront and online payday lenders charge rates of 200 to 500 percent.
A consumer inquires about a payday loan or short-term credit online and is asked for a long list of personal information. The lender is a shell firm; the loan might never be made, but the victim's personal information is now in the hands of scammers who sell it to a fraudulent collection agency.
With other lenders, it could take up to five business days. Consider a Payday Alternative Loan (PAL) Payday Alternative Loans (PALs) are small loans some federal credit unions offer. They ...