{"id":77702,"date":"2018-01-22T19:00:49","date_gmt":"2018-01-22T12:00:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/legalized-loan-sharking-payday-loan-customers-recount-their-experiences\/"},"modified":"2018-01-22T21:03:55","modified_gmt":"2018-01-22T14:03:55","slug":"legalized-loan-sharking-payday-loan-customers-recount-their-experiences","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/legalized-loan-sharking-payday-loan-customers-recount-their-experiences\/","title":{"rendered":"'Legalized loan sharking': payday loan customers recount their experiences"},"content":{"rendered":"


\nThe Consumer Financial Protection Bureau has ordered a review of rules on short-term loans. Three customers say companies lured them into a trapMick Mulvaney, White House budget director and interim director of the Consumer Financial Protection Bureau, recently announced a review of rules on payday loans. Payday loan companies focus on the needy, often operating out of strip malls or corner stores. Interest can be 300%, plus fees. Borrowers often hand over post-dated checks which are cashed if they do not repay on time. Continue reading…
\n
\nSource : theguardian.com
\nRead more…‘Legalized loan sharking’: payday loan customers recount their experiences<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Consumer Financial Protection Bureau has ordered a review of rules on short-term loans. Three...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-77702","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kdg","jetpack-related-posts":[{"id":15236,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/us-proposes-new-rules-for-payday-loan-industry-to-curtail-borrower-debt\/","url_meta":{"origin":77702,"position":0},"title":"US proposes new rules for payday loan industry to curtail borrower debt","date":"June 2, 2016","format":false,"excerpt":"\r Consumer Financial Protection Bureau seeks to require lenders to check if people can afford to repay as critics accuse agency of ignoring credit needs of poorThe US government announced plans on Thursday to regulate the controversial $38.5bn payday loan industry. Regulation of the high-interest, low-dollar loan industry has until\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14446,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loan-complaints-to-financial-ombudsman-nearly-triple-in-a-year\/","url_meta":{"origin":77702,"position":1},"title":"Payday loan complaints to financial ombudsman nearly triple in a year","date":"May 26, 2016","format":false,"excerpt":"\r PPI remains most complained-about financial product and more consumers are unhappy about fee-charging bank accounts, review findsComplaints to the financial ombudsman about payday loans have almost tripled in a year, despite tougher regulation of the controversial sector, figures show. Continue reading...\r \r Source : theguardian.com\r Read more...Payday loan complaints\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/unplanned-overdraft-fees-four-times-costlier-than-payday-loans\/","url_meta":{"origin":77702,"position":2},"title":"Unplanned overdraft fees 'four times costlier than payday loans'","date":"July 9, 2016","format":false,"excerpt":"\r Which? calls for a cap on \u2018punitive\u2019 charges after research shows bank rates harming vulnerable customers Going overdrawn on a current account without permission can now be up to four times more costly than taking out a payday loan, according to new research from consumer body Which? Continue reading...\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fca-urged-to-extend-cap-on-payday-loan-fees-to-other-forms-of-credit\/","url_meta":{"origin":77702,"position":3},"title":"FCA urged to extend cap on payday loan fees to other forms of credit","date":"May 27, 2018","format":false,"excerpt":"\r Debt charities and MPs want action when City watchdog\u2019s 18-month review is publishedThe City watchdog is facing mounting pressure to extend its cap on payday lending fees and interest to a broader range of high-cost financial products before a major review of lending practices this week. Debt charities and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13020,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-cheers-for-googles-ban-on-payday-loan-ads\/","url_meta":{"origin":77702,"position":4},"title":"Two cheers for Google\u2019s ban on payday loan ads","date":"May 14, 2016","format":false,"excerpt":"\r The search engine\u2019s ban on payday firms charging more than 36% APR is a start, but it needs to do more for the full three cheersSuccessive British governments refused to cap super-high interest rates, which is how we allowed Wonga to charge its poor borrowers up to 5,853%. Then\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":49722,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/consumer-advocates-call-for-crackdown-on-irresponsible-payday-lending\/","url_meta":{"origin":77702,"position":5},"title":"Consumer advocates call for crackdown on irresponsible payday lending","date":"March 27, 2017","format":false,"excerpt":"\r Choice and other consumer advocates want stronger counselling services, no-interest loan schemes and better regulationConsumer advocates have urged the government to stamp out irresponsible payday lending by strengthening financial counselling services, funding no-interest loan schemes and urgently acting on a promise to better regulate the sector.An alliance of consumer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77702"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=77702"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77702\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=77702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=77702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=77702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}