http://www.helpfordebtors.com/taxonomy/term/48/0 en http://www.helpfordebtors.com/node/253 <p>The FDID launched a study on alternatives to Payday Loans, which is great news because Payday Loans almost always hurt the people they purport to help (i.e., low income earners). The average payday loan borrower pays $800 for every $325 borrowed and interest rates on these loans can run as high as 700%!(According to the Center for Responsible Lending)</p> <p>So the FDIC is inviting bankers to participate in its “Affordable and Responsible Consumer Credit” program to identify business models for affordable small-dollar loans. </p> <p>From the press release:</p> <p>"Key features of the pilot will include loan amounts of up to $1,000; payment periods that extend beyond a single pay cycle; annual percentage rates below 36 percent; low or no origination fees; and no prepayment penalties."</p> <p><a href="http://www.helpfordebtors.com/node/253">read more</a></p> http://www.helpfordebtors.com/node/253#comment District of Columbia Tue, 30 Oct 2007 10:31:58 -0500 maggieb 253 at http://www.helpfordebtors.com http://www.helpfordebtors.com/node/76 <p>Welcome to the District of Columbia forum on HelpForDebtors.com. The intention of this forum is to provide a space online for people to exchange questions, answers, information and personal stories related to the District of Columbia. Please be respectful when posting so this can remain a valuable resource for everyone.</p> <p>You must be a registered user to post messages to the forums.</p> http://www.helpfordebtors.com/node/76#comment District of Columbia Wed, 14 Jun 2006 11:54:22 -0400 Editor 76 at http://www.helpfordebtors.com