April 27, 2016
Online Payday Loans Have 'Hidden Costs,' Federal Report Says
If there's not enough money in the account to cover the payment, the bank can either make the payment and charge an overdraft fee, or deny payment and charge a nonsufficient funds (NSF) fee. If that happens, the payday lender may tack on a late fee, returned payment fee, or both.
But it doesn't stop there. If the initial request for payment fails, most lenders will try to collect again. Each attempt can result in even more fees. The CFPB found that in one extreme case a lender made 11 payment requests in a single day.
They're doing God's work, one payment request at a time.
New Home Sales Increase to 693,000 Annual Rate in March
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The Census Bureau reports New Home Sales in March were at a seasonally
adjusted annual rate (SAAR) of 693 thousand.
The previous three months were revised ...
45 minutes ago
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