Posts Tagged: lending practices

The Loophole

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

About 12 million borrowers turn to payday lenders each year. According to a new study by the Pew Charitable Trusts, only about 14 percent of borrowers can afford to take enough out of their monthly budget to repay the average payday loan. While 15 states that have banned the predatory, high-interest loans that payday lenders… Read more »

Update on Lawsuit Loans

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Companies that advance money to plaintiffs involved in personal injury lawsuits are campaigning in state capitals for legislation making clear that their growing industry is not subject to usury limits on interest rates or other state laws that protect borrowers. Since February, they have persuaded legislators in at least five states, including New York, Alabama,… Read more »