First order of business tonight: Short-term loans are under scrutiny in America. Post-crisis agency designed to protect consumers will attempt to do what Canada has failed to do: create national law to govern the practices of payday lenders, those who prey on the most vulnerable with loans short term with potentially crippling interest rates. Here …

A city of Kitchener committee is considering reducing the number of authorized payday lending establishments in the city. A report presented to Kitchener’s finance and business services committee on Monday recommends limiting the number of payday loan outlets to 10 and monitoring the location of outlets. There are currently 18 payday loan agencies in the …

News that the Church had an indirect stake in the high-interest online lender sparked a storm of controversy in 2013. Now the Church has sold its investment, ending its association with Wonga. Church Commissioners for England, who produce money to support the Church of England, said they were “happy to announce” that exposure to Wonga’s …

The small personal loan: When to apply for one, and when you shouldn’t.

Small personal loans are ideal for personal financial emergencies of a small size Certain finance experts have the strictest policy on all forms of borrowing, except mortgages. We would all want to follow their recommendations. Nobody likes to go into debt. However, for most Americans it’s not as easy. It can be very painful (the water heater fails …

Wonga filed for bankruptcy after thousands of customers filed for compensation against the company. The payday lender entered administration after facing huge problems with its astronomical interest rates and unethical loan allegations. Britain’s largest payday lender, in 2012 it granted four million loans to more than one million clients. In a statement, Wonga said that …

Borrowers who use payday loans are urged by Citizens Advice to fight back and file a complaint as it kicks off its Payday Loan Awareness Month today. Citizens Advice calls on payday loan customers to formally complain to the Financial Ombudsman Service (FOS) if they have been abused by a lender. He found that about …

Payday lenders and rental companies are set to face tougher regulations and need to improve the way they view the needs of struggling families, according to a survey. A Senate Economics Committee investigation, which reported on Friday, learned that in one case an unemployed person paid the equivalent of an 884% interest rate on a …

Vulnerable Australians agree to share their banking passwords on the internet so payday lenders can see their transaction history before lending them money, according to a survey. The practice places the poorest Australians in violation of the terms and conditions of their transaction accounts, leaving them at risk from unauthorized access to their bank accounts …

Inside Richmond Rubicon Bakers, 200 employees create, bake and decorate cakes, cupcakes and cookies that are shipped to 2,500 grocery stores across the country. Yet it was something that was happening much closer to his home, literally on the street, that made owner Andrew Stoloff realize he could do more for the good of his …

Posted: 2/6/2016 21:06:20 PM NEW YORK – Federal regulators on Thursday proposed a major crackdown on payday lenders and other high-interest loans, the first national attempt to tackle an industry widely seen as profiting the poor and desperate. The proposals, if passed intact, have the potential to cause a nationwide contraction and restructuring of the …