The Financial Services Bill which has just had its first reading in parliament will see the creation of a new regulatory body to replace the old Financial Services Authority as well as replacing some of the powers of the Office of Fair Trading.
Payday loan provider paying customers to advertise
One instant cash loan provider has begun to pay its own customers to market its short term loans to their Facebook friends, even though the interest rates charged by the lender are in excess of 20 times what it would cost a borrower if they used a typical credit card.
Wood Green to be site of protest today
Wood Green is to be the site of a protest today aimed to shame money shops offering no credit check short term loans to local residents, it has been recently revealed.
Islington Council’s “ban short term loans” by law falls at the first hurdle
Some councillors active on the Islington Borough Council are not all that happy about short term loans companies and their activities in the area and have been trying quite hard to get them banned by enacting a by law.
Council members abandon plans to ban payday lenders
Members of Islington Council have been forced to leave off their plans to ban instant cash loan providers from the borough, even as they lead successful protests against the instant cash loans industry.
US-based instant cash loan providers campaign and lobby hard
Due to new rules permitting political campaign contributions by large firms in the US, instant cash loan providers have begun to throw their political weight around by voting with their chequebooks – and they’re voting for Republican presidential candidate Mitt Romney.
Car log book loans firm says they are responsible lenders
A way for those who need fast cash but are worried about getting into serious debt by taking out a loan with a short term loans company now have a novel choice which seems to bridge the gap between completely unsecured lending and a personal loan from a traditional lender like a bank.
Credit unions bounce back from recent industry censure
While instant cash loan companies and their proponents may have recently cheered to see two credit unions censured by an industry watchdog, confidence is high that the sector will continue to grow and become an excellent alternative to no credit check short term loans when it comes to Brits in need of cash but who are unable to turn to High Street lenders.
Easter won’t stop short term loans business
The holiday period is a double edged sword. Although it’s a great time to unwind and spend quality time with friends and family, it can be a worrying time if one is short of cash as nothing is normally open where one can get a loan if needed.
Are there any benefits to payday advance lending?
There has been much said on both sides of the argument in regards to the relative benefits of payday advance lending, yet the question remains – is there truly any benefit in taking out an instant cash loan?