View this document (PDF) Short-term loan carries 365%-plus APR How Bank Payday Loans Work.  Banks make payday loans by depositing money into a customer’s checking account.  The bank then automatically repays itself in full by deducting the loan amount, plus fees, from the account when the customer’s next direct deposit paycheck or other benefits income [...]

Read our report (PDF) Our nation’s largest banks extract billions of dollars in fees from their customers each year through abusive overdraft loan programs.  Over the last ten years, these programs developed and proliferated un Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

Download our report “Mainstream Banks Making Payday Loans” (PDF) Regulators must put swift end to new trend At least two nationally chartered banks are offering their own version of payday loans, with  high fees and short-term Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

View this document (PDF) SUMMARY We commend NCUA for its efforts to encourage federal credit unions (FCUs) to offer responsible small loan products. However, we encourage NCUA to think of this program in the context of two realit Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

View this document (PDF) In recent years, a growing number of states have enacted interest rate caps and other protections to eliminate abusive payday lending practices that trap consumers in long term debt. Payday lenders repeat Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

View this document (PDF) A CRL analysis finds that payday lenders charge up to 572 percent APR for two-week loans at over 900 payday lending outlets in Mississippi. The typical borrower in that state pays an estimated $69 Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

View this document (PDF) As a provision of the National Defense Authorization Act for Fiscal Year 2006, the United States Senate asked the Department of Defense to conduct a study on the impact of predatory lending on their troop Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

View this document (PDF) This color-coded map of payday stores by household reveals a disturbing pattern. Southern states are among the most targeted for these high-cost, low-dollar loans. Published: Nov Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

Payday lenders survive by keeping customers caught in long-term debt, and before 2007, members of the American military service were not off-limits. In fact, payday loan stores clustered around bases, promising quick cash to mi Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash

Read the full report (PDF) Read the executive summary (PDF) Payday Loans, Inc.: Short on Credit, Long on Debt  dispels the notion that a payday loan is a short-term debt. Although marketed and advertised as a quick solu Technorati Tags: max payday, payday advances, payday lenders, payday loans, quick cash