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Jobs Aplenty, No More Need for Payday Loans Online, Thanks To Donald Trump

President Donald Trump has been rendering most of his anti-elitist campaign orotundity into policy declarations. This aggressive attitude towards breaking of shackles can prove to be a great thing for people who deal with money, people who engage in high quantity fiscal operations, payday loans online, etc. This is because the next shackle in contention for Trump’s dismissal is the Dodd-Frank Act. The heinous act must be gotten rid of as it has made the shifty Wall Street banks a superior danger to the country’s macro economy and especially the common man.direct_payday_loans_pros_cons1

Ever since the government answered for the 2008 financial catastrophe, the big banks, the culprits have gotten bigger in terms of financial power while meek community fiscal organizations have died out at a frequency of one every day. This hard-hitting truth of modern American society was posted on Trump’s official transition website. The statement went on to speak about the fact that taxpayers have remained on the edge despite having bailed out the banks and other financial firms who were considered to be immutable due to their sizes in 2008. The statement also said that Trump’s team of Financial Services Policy Implementation would be looking forward to the dismantling of the Dodd-Frank Act replacing it with original policies, ones that will actually encourage economic growth and create jobs.

Adding to the promise of annulling the Dodd-Frank Act, the statement on his website also outlined numerous policies that he had spoken a lot about in his campaign. They included demands for a suspension of new policies so that the present measures could be revised. The statement also spoke at length about a tax-code refurbishment. It declared the president’s plan to be seen from a broader view as meeker, more reasonable and pro-growth.

The decision to get rid of Dodd-Frank Act is not expected to be received as good news for Senator Elizabeth Warren. Even the staunch Trump critic had nothing bad to say about Trump’s motives. She said that she would be eager to work with the arriving administration to ratify economic and banking policies as long as Trump did not change the existing rules. In remarks arranged for an AFL-CIO labor alliance occasion in Washington, she quoted matters they agreed upon, with the need to limit Wall Street impact in government. The reinstatement of the Glass-Steagall Act restricts banking actions and reform trade agreements. She said that when the time comes for President Trump to take on these issues by implementing new policies keeping in mind his goal of increasing the economic safety of middle-class families, she would happily join in. Warren a Massachusetts Democrat promised to put aside their problems of the past and work with the president to achieve their mutual goal.

The new government’s strategies for a much-needed financial revamp needs certain regulations. However, this could pull from a suggestion which came out previously this year. The proposal was by Representative Jeb Hensarling who is a Texas Republican. He leads the House Financial Services Committee. He had an idea of a bill which was dubbed the ‘Choice Act’. The bill demands the tearing up of the fundamental parts in Dodd-Frank Act. It includes a facility that authorizes the government to pull to pieces banks or financial organizations who have failed in their endeavors. The Texas Republican also wishes to do discard the Volcker Rule limitations on banks’ dealings and investments. His plans also include formulating ways to deteriorate the influence of the Consumer Financial Protection Bureau.

Anyone familiar with financial terms like payday loans online or macro or micro economics should be able to understand the importance of what Donald Trump is doing. Under him, the future looks bright for USA’s stagnant economy.

Sudden Harsher Restrictions On E Payday Loans and Their Effects On the Masses

http://dailycaller.com/2016/10/05/killer-new-regulations-on-loans-hurt-women-blacks-the-most/

Situations and moments are very fickle; no one has the slightest of the notion what is going to happen the next moment. While everything may seem like near perfect this very moment, the next moment might welcome about a completely new accident that no one thought about. This was exactly what happened when the news about the newest changes in regulation in the lending of loans was inflicted by the Consumer Financial Protection Bureau (CFPB). While it seemed like a “good” change for some who already have their impending luxuries, this definitely came out as a shock for the people who depend on the e payday loans. These new restrictions were talked down upon by maximum of the citizens who vividly depend on the payday loans in times of need.Banks Are Offering Payday Loan Type Services

What Are Payday Loans?

For a very brief idea about what this entails, Payday loans are the small amount of money that is sanctioned to be loaned to a certain person on a higher rate of interest for a shorter time frame. It has been seen on a lot of occasions that the date of returning the money is often set on the borrower’s pay day but this rule is not applicable all the time. The borrower even has to pay an advance check with the said day when the money is to be returned.

The amount of money that is mostly lent via the payday loans doesn’t exceed $500 and the rate of interests are often under a close margin from $15-$100 depending on the amount of money that is loaned.

What Are the Implications of the Restrictions?

The newest set of regulations and restrictions that are inflicted on the entire lending system of money has affected the payday lending schemes and companies the most as per the calculated statistic made by Competitive Enterprise Insitute. These are those sudden assurances that help people guide through a sudden turmoil but these sudden restrictions are surely going to leave people in a pickle.unsecured-loans-can-be-easily-obtained-through-payday-lenders-direct-6516

The payday loan market is a big and widespread one. According to several reports, over 12,000,000 citizens of America opted for this way out during their times of need. The newest restrictions on these cash advances are sure to leave people in a financial liability in times of severe need. People without proper rainy-day savings or even a credit card won’t be able to easily appeal for these now that the restrictions have been tightened.

  • The most common people who seek out for these quick cash advances are either women or young citizens with an annual wage varying from $30,000-$35000. The quick cash was an easy and a quicker way out but several reports have now claimed that it is most likely that the women and the African-Americans are the ones who are going to suffer the wrath of these restrictions the most.
  • It is not just the borrowers who are going to be affected but even the payday loaners because it has been estimated that there will be a cut shortage of 3/4th of the total payday lending market. It is most likely possible for over 20,000 payday loaners might end up leading an unprofitable organization which is definitely a blow for them as well.

The only argument put forth by the CFPB is that people often “overuse” the advantages that the payday loan schemes bring them. They even expect these sudden restrictions on the regulations are more likely going to increase the free market interaction with the consumers and the sellers which are nothing but a far-fetched notion.

This sudden demarcation on the e payday loans seems to just affect a certain part of the area which is unjustifiable. If the aim of this is to bring about the changes as mentioned by the CFPB, then the effects of the same should be similar for every strata and race which definitely looks like a big question mark at the moment.

Obama Administration Accused by Payday Lenders of Last-ditch Effort with Operation Choke Point

The Obama administration is being accused by short-term lenders of attempting a last-minute effort to crack down on their industries by using Operation Choke Point. This has caused an emergency situation where businesses are not able to perform their basic functions, such as paying their employees.

Following a loss of more than dozens of banking relationships over the past few weeks, payday lenders asked for emergency relief from the program of the government from a federal judge in the District of Columbia. The program has been severely criticized for incorrectly targeting businesses that are legitimate.cfpb

CEO of Community Financial Services Association of America (CFSA), a trade association representing about nine thousand short-term lenders, Dennis Shaul, said that immediate relief is more important than ever. He believes that some members of the CFSA will be coerced to dramatically retrench their operations and others might have to shut down altogether without an injunction against Operation Choke Point.

The Justice Department designed Operation Choke Point in 2012 for attacking telemarketing, Internet, mail and other such mass market scam against the end-users by restraining swindlers’ access to the banking system.

The Justice Department believed that by partnering up with federal regulators including the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, they will be able to crack down on scams by utilizing federal regulators to pressurize the banks out of offering their services to businesses that are fraudulent.
However, critics of the program including several Republicans in Congress said that the program was being used to put financial pressure on legal industries that the Obama administration did not like, payday lenders and firearms sellers.
The Justice Department was contacted by the Daily Signal for an update, but they did not respond.

In April, a former official of President Barack Obama’s Justice Department said that the program has unintentional, but collateral consequences on the US consumers and banks. The complaints regarding the program damaging legal business owners have not stopped since then.

Operation Choke Point: A Shadow Campaign

A spokesperson for Advance America, the largest payday lending agency, Jamie Fulmer, said that the program is a shadow campaign against the businesses that abide by the law. To eliminate short-term lending, backdoor tactics are being utilized by regulators.

In a lawsuit filed in 2014 against the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Reserve for their participation in the program, the CFSA and Advance American are co-plaintiffs.
The chief financial officer for Advance America, Christian Rudolph, said that at least twenty-one banks have sent the organization notifications for termination since 2013.

When requesting an emergency injunction against the program, he said that recently the terminations of the bank have reached a point where it has significant begun to restrain the ability of Advance America to carry out its business operations and it is on the verge of being refused to even hold a bank account.

Payday loans are typically small-dollar, 2-week loans that are meant to be given back when end-users receive their paycheck. Payday lenders usually charge a fee of $15 for every $100 borrowed.

Critics are worried that borrowers are going to struggling with repaying the loans leading to higher fees and eventually leaving the consumers in a cycle of debt. Supporters are of the opinion that industry offers a much-needed service to the Americans in financial bind or lack accessibility to the bank. They even argue that paying late fees on a credit card or the costs of bounced checks are much higher.

The case, Federal Deposit Insurance Corp. VS CFSA, is still going on and last year, the court granted it to move forward on the basis that the federal government might have breached the clause of the Fifth Amendment.

As per this clause, the lawyers for CFSA argued in court documents that the stigma established by the government against their industry under the program has been deprived of their right to having bank accounts and there selected business line. The negative effects of the program have been spoken out by the victims since the program was launched in 2013. A number of accounts have been documented by the Daily Signal.

But, the bank officials neither confirmed nor denied the theories of the federal regulators.

When a judge was asked for an emergency relief by CFSA and Advance America, however, the lawyers incorporated a written statement from the chairman of the Business Bank of Texas, Ed Lette.

Lette traced out how federal regulators from the Office of the Comptroller of the Currency coerced him to put a stop to a mutually advantageous relationship with a Texas-based payday lender, Power Finance Texas.

An expert in financial regulations at the Heritage Foundation and a critic of Obama’s program, Norbert Michel, said that it is very unusual for bankers to be discussing their problems publicly with their regulators.

The Office of the Comptroller of the Currency does not comment on any open litigation, but they did point to a testimony by Daniel Stipano, the agency’s deputy chief counsel, in 2014. Stipano had said that the agency does not direct banks to matters of individual accounts or even encourage banks to be engaged in termination of customer accounts. In case the bank is unable to manage the risks presented by a customer or the customer is related in any suspected illegal or criminal activity, the agency may direct the bank, via enforcement action to discontinue a customer’s account.

Stipano even confirmed that some of the requests that they had received during 2013 from the Justice Department were associated to Operation Choke Point.night-television-tv-theme-machines

The Program Reaches Beyond Payday Lenders

Payday lenders are not the only industry complaining about the program. The chief operating officer of Western Shamrock, a Texas-based installment loan corporation, Tom Hudgins, said that his industry also felt the pressure. Their sources of funding continue to be pressurized and their banking relationships at the local level continue to be discontinued. Hudgins operates three hundred locations in nineteen different states.

Installment loans are repaid over time and they have been around for much longer than payday loans. It differs from payday loans in the sense that they are fully underwritten and need strict verifications of the customers’ ability to repay the loan.
CEO of Banner Finance, an installment loan business with thirty-seven branch offices in 4 different states, Randy Dalton, said that there have been at least been 3 instances over 2 years where he had had to change banks because of terminations. He said that he has lost some bank relationships that his company had cherished for more than 50 years.

He said analyzing the current situation is of utmost importance and he is scared to think what will happen next.

A New Administration Brings Hope

Both installment and payday lenders agree that they have reasons to be hopeful, regardless of the uncertainties. Even though Donald Trump, the President-elect, has not made any comments on the Operation Choke Point, attempts have been made on multiple occasions by the Republicans in the Congress to terminate the program.

Sens. Ted Cruz, R-Texas, and Mike Lee, R-Utah, presented legislation aimed at deciphering Operation Choke Point, and the 2 are regular allies of Trump’s nominee for attorney general, Jeff Sessions.

The administration of Trump has not said much about the program, except that it is going to change very soon.

The Facts about Payday Loans the CFPB would rather you did not know about

We have officially reached a point where a good number of people are all too aware that the Consumer Financial Protection Bureau (CFPB) is on a mission to cripple – possibly even eliminate – the payday lending industry. The CFPB officially released its proposed regulations for this industry earlier this summer, and it seems that the Bureau and the payday lending industry are on a collision course. There are some things about payday lending that the CFPB would probably rather that you did not know about.

Are Payday Loans PredatoryIs the Glass Ceiling Sending Women to Payday Lenders

When you think of a predator, you probably think of a vicious, wild animal that hunts down defenseless creatures in the wild. This is a pretty brutal picture, right? It’s easy to understand why the CFPB continues to refer to payday lenders as being predatory. They want people to picture huge lending companies that are mercilessly making life difficult for the poorer people of this country. The truth, however, doesn’t seem to indicate that payday lenders are predators at all.

The CFPB has been collecting consumer complaints via an online database for several years now. Consumers are allowed to log complaints about every type of financial service/product from their local banks to debt collectors. They are also able to log complaints about payday lending companies. If payday lenders are really preying on people, you’d think that a lot of those people would be doing everything they could to make it stop. That means that we would expect to see tens of thousands of complaints about payday lending in the CFPB’s official database.

That’s not what we’ve seen, though. Payday loan complaints make up a miniscule amount of total complaints logged thus far. As a matter of fact, complaints about payday lending companies account for far less than 1 percent of the total complaints logged to date. But there are plenty of complaints in the database that people have taken the time to officially submit. Mortgage lenders, debt collectors and even credit card companies have managed to be the most complained-about topics so far.

One would have to assume that if the CFPB is receiving more complaints about mortgage loans, credit cards and other types of financial products/services that the Bureau would focus on doing what they can to introduce rules that those industries must adhere to; rules that would more effectively protect consumers. But what are they doing instead? They have focused a lot of time, energy and money on regulating an industry at the federal level that is already regulated quite effectively at the state-level.

What we have here is another case of an arm of the federal government sticking its nose where it doesn’t belong. If payday loans were such a huge problem – if payday lenders were predators – then people (to the tune of about 10 million to 12 million per year) would not be going back to these lenders, and they would certainly be logging complaints about being preyed upon.

Could it be that the larger lending companies can afford to do what they want because they have more money and maybe even help to prop up the political careers of certain elected officials? Maybe. Could it be that since the CFPB has been nothing more than a puppet for the Obama administration (and Obama has gone on record about his personal disdain for payday loans) that the group is simply using its power to toe the line, so to speak? People need money for emergency expenses. Payday lenders are often the only resource that lower income households can turn to. Complaints about the industry from real people are minimal. SO why the continued focus on an industry that supplies a legitimate service and that consumers are obviously not against? These are the kinds of questions that need to be brought to the table, and the CFPB must answer them if it hopes to maintain any semblance of being a legitimate protector of American consumers.

Revamped Payday Loan Regulations under review

As the 2016 summer weather has continued to heat up so, too, has the drama surrounding payday loans, car title loans and other types of alternative financial services. From the most popular news websites to popular talk shows, payday loans are being discussed quite a bit. Why so much attention right now? Because in June the Consumer Financial Protection Bureau (CFPB) officially published its proposed rule to regulate payday loans, title loans and other types of alternative loans. The CFPB has even asked the public for feedback on the proposed rule.Banks Being Scrutinized By Regulators for Payday-Like Loans

Financial experts have even been tasked with looking the rule over and letting the public know what they think about it. Though payday loans have been a hot topic, financial experts have repeatedly stressed that the general public still lacks a fundamental understanding of payday loans, and the alternative financial services industry in general. Being as most media pieces on payday lending rules seem to be centered on the CFPB, it is easy to understand why some people tune out when they hear this topic being addressed. Understanding the new rule, what the CFPB is trying to do and how the payday lending industry could be affected by the rule are all things that American consumers should pay closer attention to.

The CFPB is officially recognized as an ‘administrative agency. What the heck does that mean? Essentially, an administrative agency is a lawmaking organization that specializes in a particular area. For example, the Environmental Protection Agency is one such agency that makes laws related to the environment, and the IRS (boo!) is the best known administrative agency related to revenue processing. The CFPB is a relatively new administrative agency. It was created as part of Dodd-Frank back in 2010. The Bureau was given the power to make laws related to consumer financial issues. It does this by creating rules. Once those rules get finalized they become federal law. The public is being given the opportunity to review the rules the CFPB creates, and we can also comment on any proposed rules. The official name of the newest rule is the “Payday, Vehicle Title and Certain High Cost Installment Loans” rule. It proposes to implement new consumer “protections” that the CFPB states will prevent consumers from getting into long term cycles of debt.

It is important for people to check out the rule and provide feedback. This is especially true for people who operate payday lending locations, work at them or enjoy having the ability to take out the types of loans that they want to. The proposed rule is currently available to look at on the CFPB’s website. Be warned, though, like other laws and federal rules, the new rule is very wordy and reading all of it could take a good chunk of time. Don’t let that dissuade you from at least giving it a look and deciding for yourself what you think about the proposed rule.

Going online for most folks may be more about checking out news sites and social media sites, but that doesn’t mean that you shouldn’t take a bit of time out of your day to check out important stuff, like this proposed new rule. A lot of opponents of the CFPB have accused the agency of running roughshod as of late. Looking at the new rule and then finding out what opponents of the rule believe will help you to be better informed about this important topic. Just because an administrative agency has the power to do something that does not necessarily mean that it should. Take a look for yourself and let the CFPB know what you think.

Are Payday Loans really the Debt Traps they are made out to be?

When you’re poor you don’t have the same kind of options that other folks have when it comes to borrowing money. As a matter of fact, there really aren’t many lending options that are currently available to lower income Americans. One type of lending that has been helpful to poorer people over the years may soon wind up going away forever. The Consumer Financial Protection Bureau (CFPB) has created new rules that may prevent poor people from getting access to short term lines of credit. And these rules were created because the CFPB says it wants to get rid of “debt traps” that are caused by the payday lending industry.

About Payday LoansBanks Being Scrutinized By Regulators for Payday-Like Loans

The payday lending industry really started to take off in the 90s. Most folks have seen the small storefront locations that these lenders use as their base of operations. The lenders provide small dollar loans (usually for just a few hundred dollars) to their customers. The customer pays back the loan in a week or two and is charged a flat rate fee that must be paid back in addition to the money borrowed. It is typical for payday lenders to charge about $15 for every $100 a person borrows. So, if someone takes out a $200 payday loan, they must pay the lender $230 after the two week loan term is up. Pretty easy to understand, right?

The CFPB doesn’t think that process is very simple or easy to understand. In fact, they seem to believe that American consumers are so dumb that they couldn’t possibly understand and abide by those types of loan terms. That is why they have amped up their efforts to effectively eliminate the payday lending industry. They are looking to implement their proposed rules on a federal basis, so all the states have to fall in line with how the CFPB wants to regulate this industry.

One problem is, however, that individual states have already been doing a pretty good job of regulating the payday lending industry without eliminating the industry altogether. This doesn’t appear to be enough for the CFPB, though, as they have been pushing very hard to get their new rules implemented as soon as possible.

The New Rules

The CFPB wants to make lenders assess whether or not a borrower can pay back loans prior to the loan being made. They also want to make it more difficult for people to roll over old loans into new ones. If these rules become the law of the land, they will certainly shake up the payday lending industry. But that might not be a good thing after all.

We have to use critical thinking here to figure out why people take out payday loans. They do so because they need access to fast cash. Many of these people have low credit scores and/or very little access to traditional banking services. These folks have the same types of emergency expenses that everyone runs into from time to time. But without a lot of cash on hand or the ability to borrow from banks/credit card companies, they instead turn to payday lenders. The bottom line – people take out payday loans because they need to. They have no other avenues to pursue when they need emergency money. If the CFPB’s new rules drive thousands of lenders out of business we could potentially see millions of American households left with no option available to them at all when they need to take care of emergency expenses.

This is just another example of people/organizations saying they have someone’s best interest at heart, but really doing nothing more than making life more difficult for that person. Without payday lenders to turn to when hard financial times hit, poor people may wind up with nowhere else to turn than illegal (loan shark) lenders. That certainly isn’t the kind of outcome that anyone wants to see take place.

Payday Lending Limitations may leave Borrowers out in the cold

Canton, Ohio is a city that is very much a typical American town. There are about 73,000 people living in Canton. It is also known for being the home of the Pro Football Hall of Fame and is known for having a thriving art scene in the downtown area. You may not know it, but Canton is also a city that serves as the nerve center of the payday lending industry. These smaller dollar loans allow people to borrow money for emergency expenses and to pay the lending company back a few weeks later. There are a lot of lenders in Canton, and a lot of people who regularly borrow money from these lenders.

Tanya Alazaus is the manager of a payday lending store in Canton. During a typical business day she sees a lot of regular customers and works hard to make sure that people get the financial services and products that they need to get by. Alazaus is a lot like any business manager or owner, and she works hard to make sure her customers get great service. It is her job. One that may be in danger if new payday lending limitations get put into place.unsecured-loans-can-be-easily-obtained-through-payday-lenders-direct-6516

Federal regulators are on a mission to crack down hard on businesses just like the one that Tanya manages. They consider payday lenders to be predatory and are coming up with new regulations that will likely lead to a serious decline in the overall volume of loans given each year. Additionally, the new payday lending regulations will probably force thousands of lending locations to close their doors for good.

The main agency that is working hard to over-regulate the payday lending industry is the Consumer Financial Protection Bureau. This agency has drafted new rules for payday lenders that will lead to greater overhead costs associated with providing loans, and that will put a cap on how many loans people are allowed to take out over the course of the year. These two repercussions alone are likely going to spell disaster for small lending companies, like those that help to prop up the economy in Canton, Ohio.

Many lenders are worried about what will happen to their customers if they are unable to get payday loans in the future. Ms. Alazaus said, “My customers look forward to being able to walk in here for their short-term needs. They would rather use us than things like credit cards, and most don’t even have the ability to use those.”

Ohio is a state that has some of the highest per-capita payday lending usage in the country. It is a state with more payday lending locations than it has McDonald’s franchises. There are already at least 14 states that have banned payday lending altogether. Ohio may soon join theses states in restricting payday loans completely. Factor that in with the federal regulations that the CFPB has been proposing, and it is easy to see the writing on the wall.

No one from the regulatory side of the house, though, seems willing to admit that imposing strict regulations on payday lenders is really going to only punish lower income American consumers at the end of the day. These are the people who depend on payday loans the most, and many of them have no alternative lenders to turn to when they are in need of emergency cash. If states, like Ohio, restrict payday lending, consumers are sure to suffer and people are going to needlessly lose their jobs. Makes you wonder just who the CFPB and other groups against free market concepts are really trying to protect.

 

Payday Lending Restrictions will harm Lower Income American Households

It is no secret that the mainstream media and some government watchdog groups seem to loathe the payday lending industry. If you believed everything that got reported on this industry, you might think that there is no reason for it to be in existence. However, that would fly in the face of the fact that millions (some say 10 to 12 million) of people every year rely on payday loans. The Consumer Financial Protection Bureau recently proposed some rules that they say will help to protect consumers from the potential pitfalls of payday loans. Opponents of payday lending have applauded these new rules, but the elephant in the room is the fact that the new rules may wind up hurting the very consumers that they were supposedly created to protect.Banks Are Offering Payday Loan Type Services

The CFPB has never come out and demanded that the payday lending industry go away completely. But the new rules are based on extensive underwriting for the loans; essentially forcing lenders to do extra leg work to make sure that consumers are able to pay back the loans that they take out. The additional checks and balances that payday lenders will have to go through in order to make loans will likely result in many of them being unable to afford to stay in business.

Some crafty investors are working on their own versions of payday loans to swoop in and snatch up their share of the growing number of people who demand short term, small dollar loans. Uber recently announced that it will allow its drivers to get payday advances of up to $1,000 against their paychecks. The money will be paid back directly from the drivers’ pay checks. And Uber is not the only company that is cooking up new ways to offer services that look a heck of a lot like traditional payday loans.

The CFPB has done what the government is known for doing from time to time. They have stepped in to put new regulations on an industry that is already undergoing massive transformations. And if the CFPB gets its way, the new rules will more than likely limit the options available to poor people. All the while similar financial services and products will become more available to middle class households. It is a reversal of fortunes that should never take place, and one that could have lasting negative impacts on lower income households for decades to come.

The CFPB has come right out and said that the new rules will raise costs for lenders and that they will ultimately lead to a reduction of total loan volume by more than 50 percent. So, the money that would have been lent to lower income consumers (higher risk borrowers) will more than likely end up in the wallets of people who have higher incomes (lower risk borrowers.) Anytime an aspect of lending is regulated the lenders will react by enacting new prices in their loan contracts. They have to account for the increased risk/cost somewhere, right?

They say that bad things tend to roll downhill. The poor in this country know this fact all too well. Unfortunately, it is usually the government who is causing the lack of fortunate financial circumstances that millions of people must contend with. The new rules being proposed by the CFPB are just another example of how a government agency can act on the “behalf” of a group of people and wind up making things even worse on that group of people in the process.

How to get a Quick $500 for a Casino Trip with your Buddies

Every once in a while you just have to get out with the buddies. And if you are serious about having a good time, you know there is nothing like heading out for a road trip to the casino. Whether you head out to Vegas or keep your trip more on the local side of things, you know that great times await when you and some of your best friends have a night/weekend of gambling and fun. The bad thing is, though, that you cannot head out the door for one of these trips without a little bit of cash in your pocket. Many guys find that they are flat broke when these types of trips are scheduled to take place, and often don’t know what to do.

Fear not! You don’t have to miss out on all the good times that are sure to happen when the next casino trip rolls around. We’ve put together some tips that will help you to get $500 or so for a great time with your crew…Casino

One option is to use a website or local reseller to sell off some of your seldom used belongings. Find that you don’t get to play golf all that much these days, and willing to part with that old set of clubs? You may find that a local sporting goods reseller in your area is willing to give you a bit of cash to take them off your hands. Have electronics or other stuff to sell? You might want to use eBay or even Craigslist to create a quick, 2 day sale.

The downside with these methods is that you will often only get pennies on the dollar from your initial purchase price. A reseller might only give you $20 or $30 for a set of clubs that you paid hundreds for, and online auctions can often not pan out as you might expect. Still, though, if you have a bunch of stuff you don’t mind getting rid of, and don’t mind taking less for them than they are worth, this is a valid way for those of you who need a quick $500 for a trip to the casino with your buddies. But you may have to sell of quite a bit of stuff in order to make that much money.

Another Method for a Quick $500 for a Casino Trip

If you don’t feel like conducting a fire sale on all of your best stuff in order to make the casino trip, you might want to consider getting a payday advance loan. There are a lot of people who deride these types of loans, but the fact of the matter is that these loans are often the best way to get quick cash for emergencies. And getting out there with your buddies for some gambling qualifies as an emergency in this case.

Payday lenders usually charge about $15 for every $100 you borrow. They get paid back two weeks after you get the loan. So if you’re short on cash because you’re between paydays at work, you get to pay the loan back once that next check is in the bank. So, you could potentially borrow $500 and pay back $575 in two weeks. These types of loans give you cash with a time buffer, so you can not worry about paying them back until you have your next check from work. For those seriously looking for how to get a quick $500 for a casino trip with buddies, the simple payday loan may be the easiest way to get it done.

Think about these options, and the next time you need cash in order to have a bit of fun with your friends, you at least now have a couple of options that may work out quite well for you.

Opposing Views Clash over the Legitimacy of Payday Loans

To say that viewpoints are polarized these days would be an understatement. On just about every subject imaginable – from pop music to politics – people have opinions. And often, the opinion that someone has on a topic puts them in direct opposition of the folks who don’t share that opinion. One only has to look at how Democrats and Republicans usually face off on various topics in order to understand how all of this works. Keeping in mind how people tend to cling to their opinion, and write off people who are on the opposite side of the fence makes it easy to understand why payday lending is such a hotly debated topic.

On one side you have consumer advocates and others who are opposed to payday lending. They believe that payday lenders charge too much for their services and that the lending companies play a part in trapping their customers in cycles of debt. On the other side, there are payday lenders, their customers and those who support this industry. The lenders are business owners that believe they offer valuable services to consumers that are underserved by traditional banks. The customers are people who need access to fast money, and who have turned to payday lenders for these services. And the supporters of this industry come from a wide range of backgrounds, with most of them sharing a strong belief in offering choice to consumers and the American entrepreneurial spirit.unsecured-loans-can-be-easily-obtained-through-payday-lenders-direct-6516

The Biggest Threat to Payday Lending

You can choose to be on either side; that’s one of the great things about this country. But there is one group that is the biggest advocate of eliminating payday lending completely – the Consumer Financial Protection Bureau (aka the CFPB.) This government group is in charge of protecting consumers from financial misdeeds and shady business practices. And while they certainly do that, the CFPB has been on a serious quest to rid the country of payday lending and other forms of short term loans that operate outside the realm of traditional banking. The CFPB is currently poised to unleash new, stricter regulations that many believe will ring the death knoll for the payday loans industry.

Surprising Support for the Payday Lending Industry

For a while, it seemed like only a handful of elected Republican officials had an interest in protecting the payday lending industry. However, in recent months key Democrat leaders have stepped up and joined in bipartisan steps to help delay/prevent the new CFPB regulations from taking effect. Many people believed that the payday lending industry was as good as done for until officials from both sides of the aisle began to talk common sense about the issue and started working together to formulate legislation that would work to stop the CFPB from enacting its new regulations. This is still a work in progress, but it demonstrates that even those who tend to lean toward liberal political affiliations can have a change of heart. As to where these bipartisan efforts will ultimately lead is something that everyone will have to keep an eye on in upcoming months.

The debate about payday loans will likely continue regardless of whether or not the CFPB is successful in implementing its new regulations. However, for those that ardently support a free market, choices for American consumers in the financial market and the ability for low income consumers to get access to short term, small dollar lines of credit, the hope is that bipartisan efforts to quell the CFPB turn out to be successful.