The payday lending industry claims that recent regulatory efforts to rein in short-term, high-interest loans have severely restricted their access to traditional banks. Now a trade organization representing the controversial lenders has asked for a federal court to intervene. [More]
short-term lenders
Payday Lending Trade Group Promises To Clean Up Misleading Online Ads
By 7.15.16
Google dealt a big blow to the payday lending industry, when it recently decided to ban the short-term/high-cost lenders’ ads from search results. At the same time, federal regulators are pushing for stricter regulations on these controversial financial products. Now a payday lending trade group is hoping to do some damage control by creating a program to identify companies making misleading claims in online ads. [More]
