Finance Fridays: Another Rough Week for Payday Loans

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Payday loans continued to make headlines for all the wrong reasons this week. Between more cities and states enacting tougher regulations against payday loans, criminal banking practices coming to light, and socially responsible lending innovators winning major awards (what?) this was a busy week. At OppLoans, we track these stories closely because nothing is more important to us than helping borrowers avoid these predatory lenders and their bad products. So, for payday loan and personal finance newshounds like us, this was another big week of headlines.

Check out all the lending, saving, and budgeting stories that hit our radar this week. We’ve put one favorite at the top (shout out to socially responsible lending!) followed by more helpful money tips and articles for you to enjoy. Happy (Finance) Friday!

Here are our top 10 personal finance stories from this week:

MacArthur Foundation: the 2016 “Genius Grants” were just announced and one of them caught our eye. José A. Quiñonez founded the Mission Asset Fund in San Francisco to facilitate lending circles in unbanked communities, helping folks establish a credit history from scratch. That’s … oh, what’s the word … genius!

New York Times: Massachusetts Senator Elizabeth Warren is not happy with Wells Fargo.

Cosmopolitan: Weddings are very expensive, so here’s 19 ways to save money while still celebrating your special day.

Telegraph-Forum: This article examines the effects of the CFPB’s proposed rules on payday lenders in Ohio.

Credit.com: How does having student loan debt affect your ability to get a home mortgage?

NerdWallet: Have bad credit? Let a financial expert explain how you can recover.

Forbes: Retirement is going to arrive sooner than you think. Here’s three ways you can save money to support you in your golden years.

Yahoo! News: The Holidays are coming. Do you have money for gifts? If the answer is no, check out some ways you can save money this fall.

Huffington Post: Entrepreneurs are famous for being thrifty, but here are some methods to make sure that you are cutting your costs effectively.

ICYMI this week on the OppLoans Blog:

OppLoans Word of the Week: Cash Advance

LendingTree Names OppLoans #1 Customer-Rated Personal Lender

Cut the Cord: Save Money with Cable TV Alternatives

Longer Terms or Lower Payments: Which Debt Consolidation Strategy is Right for You?

Have a great weekend everybody!

When you need cash in a hurry, it can be tempting to turn to a predatory payday or title lender. Don’t do it. Apply for a safe, reliable personal installment loan from OppLoans instead. We have longer terms, lower rates, and better customer service. To learn more, or to apply for a loan today, check out our homepage: OppLoans.com.

The information contained herein is provided for free and is to be used for educational and informational purposes only. We are not a credit repair organization as defined under federal or state law and we do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit. Articles provided in connection with this blog are general in nature, provided for informational purposes only and are not a substitute for individualized professional advice. We make no representation that we will improve or attempt to improve your credit record, history, or rating through the use of the resources provided through the OppLoans blog.