Finance
Record shows on controversial financing business
Payday lending is a hot-button issue. Within the United Kingdom, the number of payday loans taken out in 4 years has quadrupled. Legislation that limits percentage rates and loan terms has been passed in Montana, Ohio, Arizona, and other states. If S. 3245 passes the Senate, the Truth in Financing Act can be extended to ...
Income tax return cards might help the unbanked obtain their money quicker
Income tax returns for people without financial institution accounts are becoming a problem in the era of electronic banking and income tax filing. There is a recommendation from the Treasury Department to give income tax return debit bank cards out to help this. People without financial institution accounts, the so-called "unbanked" or "underbanked," do not ...
EPPICard – Less phishing, more administrative fees
Unemployed Americans seeking to access their state benefits have had a hard time with the EPPICard debit card system in the past. With the ATM-styled EPPICard, welfare recipients can withdraw available state benefit funds on demand. But as numerous media sources have reported, there have been significant issues with the program. As outlined by the ...
Chase cuts rate on small companies loans for companies that hire
Small business loans might start getting more affordable, and also the U.S. unemployment rate could be affected. The nation's second-largest bank announced Wednesday that it plans to lower the interest rate on small company lines of credit for companies that hire new employees. Small company lending has been a big issue as credit dried up ...
FDIC payday loan option program helps banks make an effort to compete
The Federal Deposit Insurance Corporation (FDIC) lately concluded a pilot program to get banks to compete with payday loan companies. The final results of the small dollar loan pilot program began in 2008 were released by the FDIC in a report June 24. The FDIC determined the program was successful. However, the number of loans ...
