Cash Advance News Jan 2009

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Tories promise job training cash, ready to move on infrastructure
The Conservative government is rolling out more elements of its economic stimulus plan, with Human Resources Minister Diane Finley promising $1.5 billion for job training [...] (Mon, 26 Jan 2009 17:00:27 GMT)

In recession, payday lending issue takes new spin
A year-old recession, a gloomy economic outlook and the sour aftertaste of the subprime mortgage lending crisis are setting a different stage for this year's political battle of regulating the payday lending industry. (Mon, 26 Jan 2009 18:25:16 GMT)

U.S. Stocks Gain for Second Day; Home Depot, Freeport Advance
Jan. 26 (Bloomberg) -- U.S. stocks climbed for a second day as Home Depot Inc. cut jobs, joining companies that are taking steps to weather the economic slowdown, and Freeport-McMoRan Copper & Gold Inc. beat analysts’ profit estimates. (Mon, 26 Jan 2009 21:53:20 GMT)

Senate committee votes to prevent open-ended payday loans
Legislation blocking a perceived end-run by payday lenders on restrictions that took effect 25 days ago is headed to the floor of the Virginia Senate. Voting 9-1, the Senate Commerce and Labor Committee endorsed a bill that prevents payday lenders from offering open-ended loans that could carry sky’s-the-limit interest rates. The bill is sponsored by Senate Majority Leader Richard L. Saslaw, ... (Mon, 26 Jan 2009 22:24:21 GMT)

Payday lending bill set for fast track in House
A bill that would regulate the payday lending industry appears set to move quickly through the South Carolina House. (Mon, 26 Jan 2009 22:45:13 GMT)

Budget to put cash into people's pockets, says PM
Prime Minister Stephen Harper said the much-anticipated Tory budget will include government spending to stimulate the economy, but will also feature tax cuts aimed at "getting money in consumers' pockets. (Mon, 26 Jan 2009 22:52:17 GMT)

Payday lending bill set for fast track in SC House
A bill that would regulate the payday lending industry appears set to move quickly through the South Carolina House. House Speaker Bobby Harrell is the chief sponsor of the legislation. (Mon, 26 Jan 2009 22:56:30 GMT)

Targeting payday lenders
Payday lenders and customers may have to play by new rules soon since South Carolina lawmakers want to pass new tougher restrictions. (Tue, 27 Jan 2009 03:31:32 GMT)

New bills target payday lending in S.C.
3 THINGS ... ... about what the General Assembly is doing to regulate payday lending. The House Labor, Commerce and Industry Subcommittee meets today to consider changes in the state’s payday lending laws. Attempts last year to ban or regulate the industry failed. But lawmakers have filed a half-dozen new bills. Critics accuse the industry of preying on the poor. Since 2001, Georgia and North ... (Tue, 27 Jan 2009 05:05:28 GMT)

Payday-lenders bill advances to Senate
Senators who protected the high-cost instant-loan industry now are smacking it around. Voting 9-1 yesterday, the Senate Commerce and Labor Committee backed Senate Bill 1470, which would block a perceived end-run by payday lenders on restrictions that took effect only 26 days ago. “They’ve broken faith with what we did,“ said Sen. Phillip P. Puckett, D-Russell, referring to the 2008 battle over ... (Tue, 27 Jan 2009 05:13:50 GMT)

Payday lending bill set for fast track
COLUMBIA — House leaders who last year killed efforts to regulate the payday lending industry now have put legislation to do just that on a fast track. (Tue, 27 Jan 2009 05:49:13 GMT)

Sask. will get share of budget cash: MP
REGINA (SNN) -- One of the items Premier Brad Wall wants to see most in today's federal budget -- money for infrastructure -- is something he knows will be there. (Tue, 27 Jan 2009 07:54:00 GMT)

European Stock-Index Futures Gain; Siemens, Telenor May Advance
Jan. 27 (Bloomberg) -- European stock-index futures rose as better-than-estimated earnings from Siemens AG overshadowed concern a report today may show German business confidence dropped to the lowest level in more than 26 years. (Tue, 27 Jan 2009 08:17:20 GMT)

Cash advance on tax break may help homebuyers here
The Missouri Housing Development Commission has worked out a deal that would provide a $6,750 advance payment to first-time homebuyers who qualify for the $7,500 federal tax credit; have household pretax income of less than $85,000; and have qualified for home loans. (Tue, 27 Jan 2009 09:47:44 GMT)

Cash Advance Store Robbed
The First American Cash Advance in Zane Plaza was robbed Monday afternoon (Tue, 27 Jan 2009 10:35:02 GMT)

ACE Cash Express and NetSpend(R) Corporation Present Local Families With Prepaid Reloadable Debit Cards
In a joint partnership, ACE Cash Express, Inc., the largest owner and operator of check cashing stores in the United States and the second largest owner and operator of short-term consumer loan stores in the United States, and NetSpend Corporation, one of the leading providers of prepaid reloadable debit cards in the United States, presented five local families with a $100 March of Dimes® ... (Tue, 27 Jan 2009 12:00:00 GMT)

NewsWatch: U.S. stock futures point to rise after AmEx results
U.S. stock futures advance as American Express and Texas Instruments results prove to be as glum as, but not significantly worse, than the market had feared. (Tue, 27 Jan 2009 14:21:56 GMT)

Payday lending on House agenda
Published: Tuesday, January 27, 2009 at 9:44 a.m. Last Modified: Tuesday, January 27, 2009 at 9:45 a.m. COLUMBIA — House leaders who last year killed efforts to regulate the payday lending industry now have put legislation to do just that on a fast track. (Tue, 27 Jan 2009 16:09:02 GMT)

CoreCard Software Offers Payday Loan Providers Processing Power, Software Plays Key Role in Compliance for Each ...
CoreCard Software, a leading provider of prepaid and credit card processing licensed software, today announced that their software plays a key role in helping PayDay Loans Providers comply with each individual state regulations (Tue, 27 Jan 2009 20:55:00 GMT)

Tenth Annual Pruning Championship coming in February
The 10th Annual Sonoma County Pruning Championship will begin with regional contests on Feb. 3, and continue through Feb. 13. First and second place winners from each Sonoma County American Viticulture Area (AVA) will advance to the Sonoma County Championship to be held on Feb. 20 at SRJC Shone Farm as a kickoff to the inaugural Sonoma County Barrel Tasting on March 7 and 8. Cash prizes will be ... (Tue, 27 Jan 2009 21:15:54 GMT)

Brazil Stocks Advance, Led by Homebuilders, Vale; Bolsa Gains
Jan. 27 (Bloomberg) -- Brazilian stocks climbed for a third day on speculation lending growth and improved demand for metals may help the economy withstand the global recession. (Tue, 27 Jan 2009 22:23:23 GMT)

State lawmakers take on payday lending problems
You may be one of the thousands of people who’ve taken out a payday loan. Tuesday, South Carolina lawmakers debated new regulations that would affect how you get that money or if you can get it at all. (Tue, 27 Jan 2009 22:29:57 GMT)

New Payday Lending Restrictions Pass SC House Subcommittee
A bill that would put new restrictions on payday lenders in South Carolina unanimously passed a House subcommittee Tuesday afternoon. It now goes to full committee. (Wed, 28 Jan 2009 00:01:17 GMT)

Traveling street vendors hoping to cash in on the Cardinals
You've probably seen them at an intersection in the Valley; street vendors selling Cardinals gear in advance of the Super Bowl. Many of the vendors are part of a cottage industry, traveling from town to town peddling merchandise for a particular event. (Wed, 28 Jan 2009 00:42:21 GMT)

Payday Lending Regulation Advances in SC House
COLUMBIA (AP) -- A bill that would add regulations to the payday lending industry has won initial approval from a House panel. (Wed, 28 Jan 2009 03:01:19 GMT)

Regulators Endorse Plan to Lower Insurers' Cash Cushions
Life insurance companies moved a step closer yesterday to being allowed to operate with thinner financial cushions as they try to weather the economic crisis. (Wed, 28 Jan 2009 05:00:00 GMT)

Payday lending bill moves forward in House
A House subcommittee wasted little time Tuesday in passing the state’s newest edition of payday lending reform, giving easy approval to a heavily-backed bill that raises to $600 the amount a lender may loan to individual clients, while avoiding a cap on the interest rate they can charge. Despite pleas from several lawmakers and some members of the public for stronger regulations, the committee ... (Wed, 28 Jan 2009 05:03:25 GMT)

Panel passes payday reform
A House subcommittee wasted little time Tuesday in passing the state's newest edition of payday lending reform, giving easy approval to a heavily backed bill that raises to $600 the amount a lender may loan to individual clients, while avoiding a cap on the interest rate they can charge. Despite pleas from several lawmakers and some members of the public for stronger regulation, the committee ... (Wed, 28 Jan 2009 05:13:08 GMT)

Lead opposition MP mocks the stimulus package as advance bid to buy votes
Pheu Thai MP Chalerm Yoobamrung took the House floor on Wednesday to portray the stimulus package as a blatant attempt to buy votes by copying the ideas of ex-premier Thaksin Shinawatra. Chalerm made his maiden speech to lead the opposition grilling of the mid-year budget designed to revitalise the economy. "The proposed government spending will not stimulate the economy as has been claimed but ... (Wed, 28 Jan 2009 09:02:31 GMT)

Smart boards focus on cash as risk puts profit on back burner
Directors with the right skills will steer their businesses through these tough times. (Wed, 28 Jan 2009 13:11:06 GMT)

Payday lending regulation advances in state House
Published: Wednesday, January 28, 2009 at 9:53 a.m. Last Modified: Wednesday, January 28, 2009 at 9:54 a.m. COLUMBIA — A bill that would add regulations to the payday lending industry has won initial approval from a House panel. (Wed, 28 Jan 2009 15:22:21 GMT)

New York Times Profit Tops Analysts’ Estimates; Shares Advance
Jan. 28 (Bloomberg) -- New York Times Co. , the third-largest U.S. newspaper publisher, reported a fourth-quarter profit that topped analysts’ estimates and confirmed it hired Goldman Sachs Group Inc. (Wed, 28 Jan 2009 15:25:40 GMT)

Payday lending regulation advances in SC House
A South Carolina bill that would add regulations to the payday lending industry has won initial approval from a House panel. (Wed, 28 Jan 2009 16:16:04 GMT)

Payday lending regulation advances in SC House
(AP:COLUMBIA, S.C.) A South Carolina bill that would add regulations to the payday lending industry has won initial approval from a House panel. A Labor, Commerce and Industry subcommittee approved a bill Tuesday that would bar consumers from taking out more than one loan at a time. (Wed, 28 Jan 2009 16:34:00 GMT)

Proposal to cut ND payday loan balances, fees
Payday lenders may become more popular in a sagging economy, and a North Dakota legislator says they should have new restrictions on their loans and fees. (Wed, 28 Jan 2009 17:12:43 GMT)

State lawmaker proposes to cut North Dakota payday loan balances, fees
LONDON - The Financial Times Index of 100 industrials closed at 4,295.20 up 100.79 points on (Wed, 28 Jan 2009 17:34:52 GMT)

Cash Store Financial releases Second Quarter and Six Month Results; strong earnings growth continues
The Cash Store Financial Services Inc. today announced second Quarter results for the period ended December 31, 2008. (Wed, 28 Jan 2009 22:12:00 GMT)

Advance archives: Staten Island bank suspect's previous arrests
The Advance reported on Raymond Pagliarulo's arrest in February of 1985. When it comes to robbing banks, apparently Raymond Pagliarulo isn't very good. Police say the 55-year-old from Staten Island's Tompkinsville section was caught in the act earlier today and... (Wed, 28 Jan 2009 22:57:31 GMT)

Commission may alter code on payday loans
Cash AdvantEdge was denied a conditional use permit and a waiver from a minimum separation of 1,500 feet from other check-cashing payday loan businesses by Nye County commissioners last week. (Wed, 28 Jan 2009 23:28:04 GMT)

Payday lenders in South Carolina may see changes
A bill that would regulate the payday lending industry tighter has won initial approval from a House panel. (Thu, 29 Jan 2009 01:55:47 GMT)

Cause unknown of the fire that gutted two businesses last night
The Danville Fire Department is looking for the source of the fire that destroyed Beauty Land and Cash Advance and to monitor for hot spots. See photogallery inside. (Thu, 29 Jan 2009 04:04:20 GMT)

Xstrata in 6bn cash call
The mining company Xstrata is looking to launch a 6bn capital raising to help reduce its debt burden. (Thu, 29 Jan 2009 06:18:08 GMT)

Attorney general's office lax with cash in '07, audit finds
BATON ROUGE -- The state attorney general's office in 2007 was lax in handling $6,100 in cash advances for a band and other expenses at an annual training seminar for constables and justices of the peace, according to a financial report released this week by Legislative Auditor Steve Theriot. (Thu, 29 Jan 2009 06:35:57 GMT)

Proposal to cut N.D. payday loan balances, fees
Payday lenders may become more popular in a sagging economy, and a North Dakota legislator says they should have new restrictions on their loans and fees. (Thu, 29 Jan 2009 10:27:10 GMT)

Cash America Announces Fourth Quarter Earnings and Declares Dividend
FORT WORTH, Texas----Cash America International, Inc. reported today that its financial results for the fourth quarter ended December 31, 2008 were consistent with results disclosed in the Company’s release dated January 20, 2009. (Thu, 29 Jan 2009 12:30:00 GMT)

Media General Reports Fourth-Quarter 2008 Results; Includes Non-cash Impairment Charge
Media General, Inc. today reported a net loss for the fourth quarter of 2008 of $85.5 million, or $3.86 per diluted share, including a non-cash pre-tax impairment charge of $130.4 million . (Thu, 29 Jan 2009 12:46:00 GMT)

Possible Restrictions Put On Payday Lending
COLUMBIA, S.C. -- State lawmakers in South Carolina are pushing for a bill that would put restrictions on payday lenders in the state. It has already won some approval from a house panel. (Thu, 29 Jan 2009 13:43:33 GMT)

Cash America's 4Q profit drops
Cash America International Inc. saw its profit drop 38.1 percent in the fourth quarter on severance costs and other expenses tied to the company’s closing of 42 Cash Advance locations. (CSH) (Thu, 29 Jan 2009 16:16:06 GMT)

Attorney general's office lax in handling cash advances, audit finds
BATON ROUGE -- The state attorney general's office in 2007 was lax in handling $6,100 in cash advances for a band and other expenses at an annual training seminar for constables and justices of the peace, according to a financial... (Thu, 29 Jan 2009 18:30:34 GMT)

Cash America posts fourth quarter loss
Payday lender Cash America International Inc. reported on Jan. 29 a 38 percent drop in fourth-quarter profit, and forecast first-quarter profit below market analysis. (Thu, 29 Jan 2009 20:52:01 GMT)

Ask Andy: Payday loans
Never, ever opt for a payday loan, no matter how desperate you are for cash! (Thu, 29 Jan 2009 23:14:20 GMT)

Payday loan robberies may be connected
Spokane Police are looking into whether the robberies of two payday loan locations on the same day are connected. (Fri, 30 Jan 2009 03:02:32 GMT)

Police looking for quick cash bandit
SPOKANE -- Spokane Police are investigating a robbery at another Cash Advance store. The latest hold-up happened on the 500 block of East Francis at 5:30pm. It’s the same store police say the suspect robbed last Tuesday and got away. (Fri, 30 Jan 2009 04:25:12 GMT)

How To Raise Cash--Now
You need the green stuff, and your bank isn't lending. Here are six options. (Fri, 30 Jan 2009 11:13:36 GMT)

Police nab two after late night burglary call
Richland County sheriff's deputies have arrested two men they believe were trying to break in to a Broad River Road business. Authorities responded to the 1200 block on Board River Road at about midnight. There they found two men they said had broken into a vacant building in an attempt to get into the Cash Advance next door. Reports indicate the suspects had several burglary tools. Johnny ... (Fri, 30 Jan 2009 13:40:24 GMT)

Treasuries Advance, Trimming Monthly Loss, as GDP Falls 3.8%
Jan. 30 (Bloomberg) -- Treasuries rose, trimming the steepest monthly loss in almost five years, as a government report showed the economy shrank in the fourth quarter the most since 1982. (Fri, 30 Jan 2009 14:30:20 GMT)

Advance America Announces Appointment of Tony S. Colletti to Its Board of Directors
Advance America, Cash Advance Centers, Inc. announced today that its Board of Directors has appointed Tony S. Colletti to serve as a director of the Company. (Fri, 30 Jan 2009 14:33:00 GMT)

New crackdown on payday lenders clears Va. Senate
The latest crackdown on payday lenders cleared the Virginia Senate this afternoon and is headed to the House of Delegates. Voting 39-0, senators backed legislation by a one-time ally of the high-cost, instant-loan industry that stops it from skirting payday-loan restrictions enacted last year. The bill, by Senate Majority Leader Richard L. Saslaw, D-Fairfax, prevents payday lenders from offering ... (Fri, 30 Jan 2009 18:06:20 GMT)

How to Vet a Merchant Cash Advance Provider
(Fri, 30 Jan 2009 20:47:55 GMT)

Busted: 1 of 2 suspects in Bucyrus holdup
BUCYRUS — One of two suspects sought in the robbery of a local National Cash Advance is being held in Wyandot County Jail. (Fri, 30 Jan 2009 21:24:57 GMT)

Virginia Senate says no to payday lenders
The Virginia Senate sent a message to payday lenders on Friday: Don't think you get one over on us. Irked by what they perceive as the lenders' end run around tough new restrictions passed last year, senators unanimously passed a bill to bar them from offering other types of loans. (Fri, 30 Jan 2009 21:26:59 GMT)

How to Vet a Merchant Cash Advance Provider
(Fri, 30 Jan 2009 21:36:37 GMT)

Payday lenders barred from open-end loans in bill passed by Va. Senate; House still to vote
The Virginia Senate sent a message to payday lenders on Friday: Don't think you get one over on us.Irked by what they perceive as the (Fri, 30 Jan 2009 21:49:01 GMT)

Virginia Senate Says No to Payday Lenders
The Virginia Senate sent a message to payday lenders on Friday: Don't think you get one over on us. (Fri, 30 Jan 2009 22:22:00 GMT)

Wheat procurement financing: State Bank reduces cash margin
KARACHI (January 31 2009): The State Bank of Pakistan on Friday announced reduction in minimum cash margin by 15 percent for wheat procurement financing of the fresh crop 2009. With SBP's current move, the licensed functional flourmills can acquire financing after meeting the minimum cash margin requirement of 10 percent of the value of the wheat stock for the fresh crop of 2009, instead of 25 ... (Fri, 30 Jan 2009 23:53:35 GMT)

Senate sets payday loan restrictions
Don't think you get one over on us. (Sat, 31 Jan 2009 02:49:33 GMT)

Cattle, hog producers get more time to repay advances
Cattle and hog producers facing hard financial times now have until Sept. 30, 2010, to repay cash advances under the Advance Payment Program (APP). In addition, the first $100,000 of each producer’s ad-vance will continue to be interest-free. (Sat, 31 Jan 2009 05:11:49 GMT)

Busted: 1 of 2 suspects in Bucyrus holdup
BUCYRUS — One of two suspects sought in the robbery of a local National Cash Advance is being held in Wyandot County Jail. (Sat, 31 Jan 2009 12:54:56 GMT)

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