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Tag Archives: Payday Lending Limitation Act of 2010

Payday Lenders Fearing Proposed Regulation

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While debt settlement companies are furious about pending legislation and feel they have been singled out, the payday lending industry is facing legislation with the Payday Lending Limitation Act of 2010 and that’s not making them happy. Here is a press release from on payday lender. Get Out of Debt Guy – Twitter, G+, Facebook LOS ANGELES, May 11 /PRNewswire/ ... Read More »

Payday Lenders Not Happy With Payday Lending Limitation Act of 2010

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I can’t say I’m surprised that payday lenders are not happy with newly proposed legislation Payday Lending Limitation Act of 2010 that more heavily regulates their industry. Here is the industry response to the legislation. WASHINGTON–(BUSINESS WIRE)–The Community Financial Services Association of America (CFSA), the industry representing storefront payday lenders, said that Senator Kay Hagan’s (D-NC) proposal to limit payday ... Read More »

Text of The Payday Lending Limitation Act of 2010

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Here is the text of the Payday Lending Limitation Act of 2010, S.3245. A BILL To establish rules for small denomination, short-term, unsecured cash advances, such as `payday loans’. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the `Payday ... Read More »

The Payday Lending Limitation Act of 2010

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U.S. Senator Kay R. Hagan (D-NC) will introduce legislation soon regarding payday lending. As she says, The purpose of the legislation is to ensure payday lenders can no longer send hardworking families into a spiral of debt. The Payday Lending Limitation Act of 2010 protects borrowers by ensuring that short-term cash advances remain short-term. Senators Richard J. Durbin (D-IL) and ... Read More »

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