Gay hiking community

605 Lending Operates Illegal “Rent-a-Tribe” Lending Program, Class Action Alleges

New to ClassAction.org? Read our newswire disclaimer Payday lender FSST Management Services, LLC is facing a proposed class action lawsuit over its alleged participation in a so-called “rent-a-tribe” lending program in which the company claims to be operated by a Native American tribe to avoid the laws of usury of the state. The 22-page Illinois […]

Gay hiking community

The alternative to payday loans has its own risks

Payday loans target consumers with no credit or low credit. According to industry research firm IBISWorld, the U.S. check cashing and payday lending industry is set to grow 5.1% in 2022. These high-interest loans promise quick cash until the next paycheck arrives, but they often create dangerous cycles of new loans to pay off old […]

Gay hiking community

Prevent payday lenders from using trusted banks for predatory lending

Three major banks — Wells Fargo, Truist and Bank of Regions – announced in January its intention to launch low-value loan offers to its customers with checking accounts. If their loans give customers time to repay in affordable installments at fair prices, like the existing small loans from US Bank, Bank of America and Huntington […]

Gay hiking community

During the quarantine, the number of long-term online direct lenders has increased

Microfinance market participants are seeing an increase in the share of microloans issued for a long period – up to one year. But the maturities of these loans are also reduced and the loans are repaid earlier than expected. According to Forbes in the fourth quarter of 2021, the share of long term Hart Loan […]