Cash Advance News Jun 2010

[Colom] Payday Lending: Bad Business
Each month, before receiving his Walmart paycheck, Mike* gets a payday loan. In exchange for the money, he writes the store a check for the amount of money he receives, plus an additional $22 for every $100 he borrows. (Wed, 02 Jun 2010 15:20:07 -0700)

U.K. Stocks Advance, Led by BHP Billiton, Rio Tinto, Vedanta
June 3 (Bloomberg) -- U.K. stocks rose, with the FTSE 100 Index climbing for the first time in four days, as investors speculated BP Plc shares have fallen too far and before reports that may show the recovery in the U.S. economy is broadening. (Thu, 03 Jun 2010 01:04:05 -0700)

U.K. Stocks Advance, Led by BHP Billiton, Rio Tinto, Vedanta
June 3 (Bloomberg) -- U.K. stocks rose, with the FTSE 100 Index climbing for the first time in four days, as investors speculated BP Plc shares have fallen too far and amid optimism the economic recovery in the U.S. is broadening. (Thu, 03 Jun 2010 06:34:18 -0700)

Colombia Bonds to Extend Advance, ING Pensiones Says
June 3 (Bloomberg) -- Colombias peso bonds will extend a three-month rally as higher oil prices and tax revenues ease the need to boost debt issuance after the government postponed its sale of Isagen SA, according to ING Pensiones y Cesantias. (Thu, 03 Jun 2010 08:30:06 -0700)

U.K. Stocks Advance; BP, ARM Holdings, Aviva Lead the Gains
June 3 (Bloomberg) -- U.K. stocks rose, with the FTSE 100 Index climbing for the first time in four days, amid optimism the economic recovery in the U.S. is broadening and as investors speculated BP Plc shares have fallen too far. (Thu, 03 Jun 2010 09:19:24 -0700)

Colombia Bonds to Extend Advance, ING Pensiones Says
Colombias peso bonds will extend a three-month rally as higher oil prices and tax revenues ease the need to increase debt issuance after the government postponed its sale of Isagen SA, according to ING Pensiones y Cesantias. (Thu, 03 Jun 2010 13:02:53 -0700)

Big Burst in Bean Bids
Merchandisers passed every bit of Thursday's big advance in soybean futures on to farmers, popping the DTN cash soybean index up 23 cents, to $9.22. (Fri, 04 Jun 2010 04:22:34 -0700)

Check and payday loan stores must play by the rules
Q. We have been told that Florida law allows high interest check cashing services and salary advances. These cash advance special situations are supposedly not affected by state law caps on interest rates. If true, it sounds like a great business opportunity. Please clarify for us. (Fri, 04 Jun 2010 18:27:01 -0700)

New law targets payday lenders
Ever since the invention of money, usury laws have been controversial. Those who oppose such laws say they distort financial markets, with the effect that credit availability is impaired. Supporters of usury laws argue that, in their absence, people... (Sat, 05 Jun 2010 11:31:21 -0700)

Cash-strapped consumers: Be wary of payday loans
For many consumers, the payday loan ends up as a debt trap. (Sat, 05 Jun 2010 17:43:47 -0700)

Get to know cash flow of your business
Q: Almost all of my energies are focused onrunning my business on a day to day basis; producing products,making sales, servicing my customers and complying with local rulesand regulations. Accounting is not my forte so how can I improve mycash flow? (Sat, 05 Jun 2010 18:50:12 -0700)

City Council could go on offense over payday loans
Its absolutely a problem in Charlottesville, Councilor David Brown said of payday loans. (Sun, 06 Jun 2010 18:46:30 -0700)

Why Payday Lenders Are Under So Much Legislative Pressure
Most people think the reason why the payday advance lending industry is so scrutinized and regulated by state government, and now Washington, is because payday lenders charge high fees and interest rates on their loans. (Mon, 07 Jun 2010 03:30:00 -0700)

Why Payday Lenders Are Under So Much Legislative Pressure
read more (Mon, 07 Jun 2010 03:32:49 -0700)

U.S. Stock-Index Futures Advance; Citigroup, Talecris Rise
U.S. stock-index futures advanced, indicating the Standard & Poors 500 Index may rebound from a four-month low. (Mon, 07 Jun 2010 04:16:52 -0700)

Compare 8 home improvement financing choices
As a contractor matches a saw to the cut, match your home improvement financing choice to the job at hand (Mon, 07 Jun 2010 05:40:49 -0700)

European Stocks Fluctuate, U.S. Futures Advance; Banks Rebound
June 7 (Bloomberg) -- European stocks fluctuated as better- than-estimated factory orders in Germany offset concern that that the sovereign debt crisis will hold back the global recovery. Asian stocks tumbled and U.S futures advanced. (Mon, 07 Jun 2010 05:59:31 -0700)

European Stocks Fluctuate, U.S. Futures Advance; Banks Rebound
European stocks fluctuated as better- than-estimated factory orders in Germany offset concern that that the sovereign debt crisis will hold back the global recovery. Asian stocks tumbled and U.S futures advanced. (Mon, 07 Jun 2010 06:11:44 -0700)

Advance Auto Parts Adds PrimeRevenue's Supply Chain Finance Platform
ATLANTA----Advance Auto Parts , a leading automotive aftermarket retailer, has selected PrimeRevenues Supply Chain Finance Platform to bolster its working capital management initiatives. (Mon, 07 Jun 2010 07:00:00 -0700)

Advance Auto Parts Adds PrimeRevenues Supply Chain Finance Platform
Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket retailer, has selected PrimeRevenues Supply Chain Finance (SCF) Platform to bolster its working capital management initiatives. Advance Auto Parts, with more than $5 Billion in annual sales, serves both the do-it-yourself and professional installer markets, offering parts, accessories, batteries and maintenance items in over 3,400 ... (Mon, 07 Jun 2010 07:22:02 -0700)

Compare 8 home improvement financing choices
As a contractor matches a saw to the cut, match your home improvement financing choice to the job at hand (Mon, 07 Jun 2010 08:16:29 -0700)

Turning Poverty Into A Multibillion-Dollar Industry
Pawnshops, payday lenders, check cashers and rent-to-own companies take in $33 billion a year. In writing his new book, Broke, USA , Gary Rivlin discovered how the businesses justified making huge profits off the working poor. (Mon, 07 Jun 2010 09:04:59 -0700)

Turning Poverty Into A Multibillion-Dollar Industry
Pawnshops, payday lenders, check cashers and rent-to-own companies take in $33 billion a year. In writing his new book, Broke, USA, Gary Rivlin discovered how the businesses justified making huge profits off the working poor. (Mon, 07 Jun 2010 09:18:18 -0700)

Advance Auto Parts Adds PrimeRevenue's Supply Chain Finance Platform
Advance Auto Parts, a leading automotive aftermarket retailer, has selected PrimeRevenue's Supply Chain Finance (SCF) Platform to bolster its working capital management initiatives. Advance Auto Parts, with more than $5 Billion in annual sales, serves both the do-it-yourself and professional installer markets, offering parts, accessories, batteries and maintenance items in over 3,400 stores. (Mon, 07 Jun 2010 21:38:28 -0700)

European, U.S. Stock-Index Futures Advance; Chloride May Rise
European and U.S. stock-index futures rallied as Federal Reserve Chairman Ben S. Bernanke said the American economic recovery is intact. Asian shares advanced. (Tue, 08 Jun 2010 00:10:29 -0700)

2010 Consumer Scorecard: Payday Lending Still Nations Most Abusive Small Loan
(NNPA) - As Congress considers how best to reconcile differences in financial reform and consumer protections, key national advocates recently released updated data on how consumers continue to pay steep rates for small loans. (Tue, 08 Jun 2010 01:05:02 -0700)

Swiss Stocks Fluctuate; ABB and Aryzta Advance as UBS Declines
June 8 (Bloomberg) -- Swiss stocks fluctuated as gains in ABB Ltd. and Aryzta AG offset losses in financial shares. ABB, the worlds biggest maker of power grids, advanced 1.6 percent, while Aryzta climbed 4.3 percent. UBS AG, the largest Swiss bank, slipped 0.5 percent. (Tue, 08 Jun 2010 01:49:11 -0700)

Report Exposes Expense and Pitfalls of Some Payday 'Alternatives'
BOSTON, June 8 /PRNewswire-USNewswire/ -- Some loans offered by banks and credit unions as "alternatives" to high-cost, short-term payday loans may instead plunge consumers into a costly and nearly inescapable debt cycle just like payday loans! (Tue, 08 Jun 2010 07:00:00 -0700)

Report Exposes Expense and Pitfalls of Some Payday 'Alternatives'
read more (Tue, 08 Jun 2010 07:08:29 -0700)

AppBackr brings a cash advance to iPhone devs
A new program is trying to pair iPhone developers with people who want to invest in their app prior to its release. (Tue, 08 Jun 2010 07:13:13 -0700)

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Avoiding the Pay Day Lenders: Tips From Persels & Associates on What Consumers Can Do to Avoid These High Interest Loans
A cash advance on a future paycheck may seem like a solution to a short-term financial crisis like a broken car, a need for a summer getaway or an emergency home repair. But odds are that cash advance or payday loan will come at an extremely high price - and trap the borrower in a never ending cycle of debt. (Tue, 08 Jun 2010 18:28:00 -0700)

AG Warns Payday Lenders about New Law
Arizona Attorney General Terry Goddard is warning payday loan stores not to try to keep operating as usual after a law authorizing high-interest loans expires at the end of June. (Wed, 09 Jun 2010 05:21:18 -0700)

Operation Sunset to crack down on payday loan industry
PHOENIX -- The Arizona attorney general is warning the state's more than 600 payday loan stores that it will not be business as usual come the end of the month. Attorney General Terry Goddard on Wednesday announced Operation Sunset, a crackdown campaign designed to make sure payday loans end when the are supposed to. The law the allows those high-interest loans expires on June 30. It was a 10 ... (Wed, 09 Jun 2010 10:03:54 -0700)

U.S. Stocks Advance on Bernanke Comments as Dow Regains 10,000
U.S. stocks gained as the Dow Jones Industrial Average surpassed 10,000 for the first time in four days as the Federal Reserve said the U.S. economy strengthened throughout the country and Chairman Ben S. Bernanke said the U.S. central bank will take necessary steps to aid recovery. (Wed, 09 Jun 2010 10:11:37 -0700)

U.S. Stocks Advance on Bernanke Comments as Dow Regains 10,000
June 9 (Bloomberg) -- U.S. stocks extended gains as the Dow Jones Industrial Average surpassed 10,000 for the first time in four days as Federal Reserve Chairman Ben S. Bernanke said the U.S. central bank will take necessary steps to aid recovery. (Wed, 09 Jun 2010 11:42:24 -0700)

AG warning payday lenders about new law
Arizona Attorney General Terry Goddard is warning payday loan stores not to try to keep operating as usual after a law authorizing high-interest loans expires at the end of the month (Wed, 09 Jun 2010 11:50:49 -0700)

Arizona AG warns payday lenders about new law
Arizona Attorney General Terry Goddard on Wednesday warned payday loan stores not to try to keep operating as usual after a law authorizing their high-interest loans expires at the end of the month. Speaking in front of a payday loan center in Phoenix,... Loan - Payday loan - Business - Terry Goddard - Financial Services (Wed, 09 Jun 2010 14:29:01 -0700)

AZ AG warns payday lenders about new law
The state law allowing payday lenders to operate for 10 years expires June 30. (Wed, 09 Jun 2010 16:21:31 -0700)

The Post Office Cuts Cost of Travel Money for Credit Card Holders
Post Office Credit Card waives 2.5 per cent cash advance fee when buying foreign currency. (Wed, 09 Jun 2010 17:00:00 -0700)

Arizona AG Warns Payday Lenders About New Law
Goddard warning payday lenders about tough enforcement if they operate as usual after June 30 Loan - Business - Payday loan - Financial services - Payday Advance Services (Wed, 09 Jun 2010 18:57:07 -0700)

Goddard warns of payday loan shams
Attorney General Terry Goddard said Wednesday hes prepared for the possibility that payday lenders may try to create sham transactions to get around the fact that their ability to operate in Arizona disappears at the end of the month. But Goddard said some other forms of high-interest lending will remain legal. (Howard Fischer Capitol Media Service) By Howard Fischer Capitol Media Services ... (Thu, 10 Jun 2010 00:23:35 -0700)

Zacks Bull and Bear of the Day Highlights: Advance Auto Parts, Macerich, Eclipsys, Allscripts and Navistar International
Zacks Bull and Bear of the Day Highlights: Advance Auto Parts, Macerich, Eclipsys, Allscripts and Navistar International (Thu, 10 Jun 2010 04:38:08 -0700)

Goddard initiative targets payday stores
Attorney General Terry Goddard pledged Wednesday to go after payday loan stores that break the law after their permission to charge high interest rates expires at the end of the month. (Thu, 10 Jun 2010 09:24:57 -0700)

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Payday Loans-Opt Swift Cash
Payday loans are as well generally referred to as cash advance , payday advances, payday advance loans and fast cash loans. Payday loans are required to provide agreements written in clear understandable and that disclose fees upfront in bold typeface print. (Wed, 16 Jun 2010 06:25:39 -0700)

Payday lenders can't hike rates: minister
Newfoundland and Labrador's provincial government said Wednesday that it will not introduce regulations that would allow payday loan companies to increase their interest rates. (Wed, 16 Jun 2010 16:35:04 -0700)

Cash Markets Quiet
The DTN cash grain indexes didn't stray far from neutral Thursday. (Fri, 18 Jun 2010 03:46:18 -0700)

Doorstep and payday loan lenders escape interest rate cap
Capping interest rates and charges imposed by doorstep and payday loan lenders would further reduce competition in the sector, says Office of Fair Trading The Office of Fair Trading (OFT) has concluded there is no need to cap the interest rates and other charges levied by high-cost credit providers such as doorstep and payday loan lenders. At the end of a year-long review into a sector that ... (Fri, 18 Jun 2010 06:13:10 -0700)

Suspect Nabbed In Cash Advance Robbery
A suspect in the robbery of a cash advance business in DeLand is captured minutes after the crime. (Fri, 18 Jun 2010 12:08:20 -0700)

Grandmother Robbed At Cash Advance Store
DELAND, Fla. -- Investigators caught up with a fleeing gunman and arrested him along I-4. They say he held up the Florida Cash Advance on Woodland Boulevard in DeLand Friday morning. (Fri, 18 Jun 2010 15:21:38 -0700)

Robber takes out a loan at gunpoint
A gunman held up a payday loan business this morning, escaping with an unknown amount of cash after checking with a lookout that the coast was clear, Colorado Springs police reported.The man entered the EZ Money store at 1656 S. Circle Drive around 9... (Fri, 18 Jun 2010 16:23:25 -0700)

Cash-strapped city eyes half-cent sales tax
A survey says Novato voters would strongly support a new half-cent sales tax that would pour about $3 million annually into the cash-strapped citys general fund. (Fri, 18 Jun 2010 18:08:54 -0700)

Payday loans should be part of reform plans
Nearly a decade after a major regulatory overhaul in Florida, payday lenders appear as common on Central Florida street corners as McDonald's. (Fri, 18 Jun 2010 20:58:40 -0700)

Cops nab suspect in cash-advance robbery
A Daytona Beach man wearing a bandana and brandishing a pistol entered a money store Friday in DeLand and robbed it, a DeLand police official said. (Fri, 18 Jun 2010 23:54:53 -0700)

Colorado Springs payday loan store robbed
A Hispanic man robbed the EZ Money store located at 1656 S. Circle Dr. Friday morning. The man asked asked about a loan and then pulled out a black handgun and robbed the business. Police say the suspect made several phone calls while in the business, asking "is everything OK out there?", indicating a second suspect was acting as a lookout. The suspect left the business after obtaining an ... (Sat, 19 Jun 2010 05:59:56 -0700)

Arizona AG Goddard warns payday lenders about new law
PHOENIX Arizona Attorney General Terry Goddard on Wednesday warned payday loan stores not to try to keep operating as usual after a law authorizing their high-interest loans expires at the end of the month. (Sat, 19 Jun 2010 22:27:45 -0700)

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Reunions
Send reunions at least three weeks in advance to events@freepress.com or by mail to Detroit Free Press, 615 W. Lafayette, Detroit 48226. For complete listings, go to www.freep.com/reunions. (Sun, 20 Jun 2010 00:14:05 -0700)

House OKs $4M MPLT loan to govt for payroll and CUC
Acting Gov. Eloy S. Inos said the Marianas Public Land Trust has agreed to lend $4 million to the central government to help pay for employees' salaries and pay the Commonwealth Utilities Corp., but asked that the loan be done through legislation. (Sun, 20 Jun 2010 07:03:14 -0700)

Dubai Stocks Advance Most in 10 Weeks as Mideast Shares Rally
June 20 (Bloomberg) -- Dubais benchmark stock index rose the most in 10 weeks and Egyptian shares gained, leading a rally in Middle East markets on growing confidence that Europe will contain its debt crisis. Oil gains boosted Gulf shares. (Sun, 20 Jun 2010 07:40:39 -0700)

Israel, Kuwait Shares Advance as Europe Credit Risk Wanes, Crude Oil Rises
Israel and Kuwait shares led Middle East markets higher as Europes efforts to contain its debt crisis bolstered confidence about a recovery in the global economy. Crude oil gains boosted the appeal of Gulf shares. (Sun, 20 Jun 2010 13:00:29 -0700)

Silver Spring's Discovery, including TLC and Animal Planet, turns 25
Diverse programming, such as "Shark Week" and "Say Yes to the Dress," has long made Discovery Communications, which operates the Discovery Channel, the Learning Channel and Animal Planet, popular with American audiences. The Silver Spring-based media company, which celebrated 25 years in business... AnimalPlanet - Bird - Tyson - Solar System - Astronomy (Sun, 20 Jun 2010 21:00:00 -0700)

Payday lenders fear federal regulations
In more than 2,000 pages of legislation, payday lending is not mentioned in either the House or the Senate bills on financial reform. (Sun, 20 Jun 2010 21:12:22 -0700)

Payday loan company counter sues NM AG
A lawsuit will be filed Monday to determine if Attorney General Gary King is protecting consumers from predatory lending or overstepping his bounds. (Sun, 20 Jun 2010 21:43:03 -0700)

U.K. Stocks Advance After China's Yuan Policy Change Sparks Mining Rally
U.K. stocks rallied the most in two weeks after China signaled an end to the yuans fixed rate to the dollar, sparking a surge in basic-resource producers. (Mon, 21 Jun 2010 02:14:53 -0700)

Don't Limit Payday Lending, Promote Responsible Lending Instead
Pay1Day.com - State legislators are forming a strong opposition against the payday loan industry. This, in turn, is making it very difficult for direct payday lenders to become profitable businesses. (Mon, 21 Jun 2010 04:00:00 -0700)

Cash Indexes Enjoy Weekly Advance
The DTN cash grain indexes bulked up a little last week, with the biggest advances (27 to 33 cents) in wheat, followed by an 18-cent gain in beans and an 11-cent gain in the DTN cash corn index. (Mon, 21 Jun 2010 04:09:53 -0700)

India corpbond yields ease, cbank cash steps watched
MUMBAI, June 21 (Reuters) - Indian corporate bond yields eased slightly on Monday, as traders watched for more measures from the central bank to ease liquidity conditions in the banking system. (Mon, 21 Jun 2010 05:54:01 -0700)

Before the Bell: China, BP, Biovail, Corn Products in the spotlight
U.S. stock market futures rise amid a global advance in equities and commodities markets after China said it would lift the lid on its tightly controlled currency. See Indications. (Mon, 21 Jun 2010 05:55:59 -0700)

Continental Airlines says advance bookings dip
Continental Airlines said Monday it hasn't sold as many domestic tickets for travel over the next six weeks as it had at this time last year, due in part to fewer advance bookings for regional trips and flights to Latin America. (Mon, 21 Jun 2010 08:37:23 -0700)