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What is Payday Advance by COMMUNITY FINANCIAL SERVICES ASSOCIATION OF AMERICA
The Deferred presentment industry, also known as Payday Advance, cash advance or Payday loans, represent one of the fastest growing segments of the consumer finance industry.
Consumer Information by COMMUNITY FINANCIAL SERVICES ASSOCIATION OF AMERICA
Payday Advance provides a small, unsecured, short-term cash advance until payday. Customers choose Payday Advance to cover small expenses and avoid costly bounced-check fees or late payment penalties and other less desirable short-term credit options.
Need Quick Cash? By Charles Gerena Federal Reserve Bank of Richmond
Payday loans provide short-term relief for people in financial distress. But policymakers are grappling with the long-term headaches that these loans can cause.
No Cash 'til Payday: The Payday Lending Industry by Robert W. Snarr, Jr., Supervising Examiner Federal Reserve Bank of Philadelphia
Payday lending has grown rapidly throughout most of the nation since 1990 amid substantial concerns raised by consumerists, legislators, government officials, and regulators. Over the past few years, some commercial banks have partnered with large Payday loan companies or check cashing outlets to fund Payday loans originated through such entities.
Preserving Financial Freedom for Taxpayers NTU Issue Brief 126 by Al Cors, Jr. Aug 14, 2001
Each year, as taxpayers face the dreaded "tax day" filing deadline to send their tax returns (and the amount they owe) to the Internal Revenue Service, they use every financial option at their disposal to help them meet that deadline. Just as on other occasions when working men and women have cash-flow problems, one of the tools they use to deal with a short-term money shortage is the widely popular "Payday loan".
Banks Encourage Overdrafts, Reaping Profit By ALEX BERENSON The New York Times January 22, 2003, Wednesday, Late Edition - Final
At least 1,000 banks are encouraging customers with low balances to overdraw their checking accounts, allowing the banks to skirt credit laws and collect billions of dollars in new fees. The banks' programs cover checks that would otherwise bounce and even allow people to overdraw their accounts with A.T.M. and debit cards. The fees are paid disproportionately by low- and moderate-income people, according to industry consultants who help banks create and market the programs.
Payday Loan and Cash Advances Services; Friend or Foe?
Emediawire (press release) - Ferndale,WA,USA
... When it comes to Payday Loans and Cash Advances, just like any other financial service, understanding your options and educating yourself is always the most ...