Troubled by consumer complaints and loopholes in state laws, federal regulators are putting together the first-ever rules on payday loans aimed at helping cash-strapped borrowers avoid falling into a cycle of high-rate debt.

The Consumer Financial Protection Bureau says state laws governing the $46 billion payday lending industry often fall short, and that fuller disclosures of the interest and fees — often an annual percentage rate of 300 percent or more — may be needed.

Full details of the proposed rules, expected early this year, would mark the first time the agency has used the authority it was given under the 2010 Dodd-Frank law to regulate payday loans. In recent...

n>(Reuters) – American Express Co (AXP.N) is raising interest rates for a large number of its credit cards following a review that began a year ago, a company spokeswoman said.

The companys US consumer credit cards, which have annual rates well below market rates, some as low as 3.25 percent, will be affected, Elizabeth Crosta said.

AmEx is raising its annual percentage rates by an average of 2.5 percentage points to align the rates with what it offers currently to customers with similar credit profiles, Crosta said.

The annual rate for new customers will be at least 12.99 percent, but some of its older customers would continue to have lower rates despite the hike,...

On one mile of the Atlanta Highway in Montgomery, Ala., more than a dozen stores offer payday loans or cash on a car title, or they let you pawn a ring. Easy Money, Always Money, TitleBucks: They remind the ReverendShannon Webster of vultures.

“To cluster like that for the purpose of ripping off the poor, it’s against every kind of moral instruction that we have,” said Webster, 62, pastor at Birmingham’s First Presbyterian Church.

Updated: 02/23/2015 7:00 PM
Created: 02/23/2015 5:08 PM WHEC.com

By: Jennifer Mobilia – @whec_jmobilia

State Police say three suspects used cloned credit cards to purchase gift cards from Home Depots across our area.

The cloned cards mean the victims still had their credit cards in their purse or wallet and may have had no clue someone stole their identity. Experts say there are things you can do right now to make sure youre not the next victim.

Troopers in Canandaigua say theyve partially busted the traveling credit card theft ring that appears to be based in the New York City area.

Investigator Mark Eifert says, The suspects...

Australian security researcher Peter Fillmore has a history ofcard cloning. In October last year, Fillmore showed how he could clone Visa Visa and MasterCard MasterCard payment cards with an Android app running on a Google Google Nexus 4. He successfully shoppedwith it, buying some beers in a Sydney pub and a Snickers bar from a supermarket.

Next Next month, Fillmore, principalconsultant at Payment Security Consulting,will be taking his exploits to the final Syscan conference in Singapore, again focusing on contactless payment cards from Visa, MasterCard and Amex. Though his work has almost solely beencovered by press from Down Under, his attacks work on cards across the globe. And despite...

On February 18, 2015 the Federal Trade Commission filed suit against PSC Administrative, Coastal Acquisitions, Infinity Client Solutions, Infinity Collect, Jared Irby, and Richard Hughes for violations of the Telemarketing Sales Rule.

The FTC alleges the Defendants solicited consumers with debt relief services, who owed payday loans.

Defendants have induced consumers to enroll in their program by claiming that they will renegotiate the repayment terms of consumers loans so that consumers payments will be reduced.

Defendants advise consumers to terminate their direct payments to lenders and pay money into Defendants program instead.

Defendants have promised consumers...

When you have bad credit, it is hard, but not impossible, to obtain a credit card. With a little extra effort and planning you can find a credit card that will work with your financial situation.

Here are some tips on how to find credit cards for bad credit:

Know why you have bad credit

The most step in improving your credit is knowing why you have bad credit in the first place. If you don’t know, you can find out by checking your credit score and reviewing your credit report. Once you review the report, you may see ways you can improve your credit score. You may be able to fix errors or dispute questionable charges. There may be some past due bills that you can pay off....

As our economy continues to improve, there is a crushing weight holding many back: payday loans. While state and local leaders have taken up the cause in certain jurisdictions, this is a national problem that requires Congress to act. Unscrupulous lenders lure those who are already facing financial hardship into a debt trap from which it is very difficult to escape.

Drawn by slick marketing, desperate borrowers are induced to accept unfavorable terms they may not fully understand. The cost of a typical payday loan exceeds 300 percent annual percentage rate. By requiring full repayment from the next paycheck, payday lenders virtually guarantee that the borrower will be forced to ask for a new loan,...

Buying a home can be stressful time. For people who are buying their first home, the process might even seem a bit scary. And, for people who are relocating to a new city, as well as buying their first home, that stress and fear can become magnified.

Every real estate market is different, and requires the local expertise of real estate agents who can truly help newcomers make informed decisions about purchasing a home. When the buyer is also nervously anticipating a first-time home purchase, it can be comforting to work with an agent who will patiently explain the process, and educate them on the current real estate market.

Lisa Chaney is a Realtor associate with Martha Turner...

Payday loans have been slammed in the press, condemned by the Government and have created misery and despair for many families across the UK. However, there are alternative options for those with a poor credit rating, who need emergency funds but know that their bank will not help them.

  1. Log book loans

If you own a car that’s under 10 years old and in good condition you could consider a log book loan. You submit your car’s logbook to a specialised lender for the life of a loan, and in return the company will deposit funds into your bank account on the same day. As soon as you’ve paid back your debt, your logbook will be released back to you. This...