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Articles on Payday lending

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Around 12 million Americans take out payday loans to help them pay for monthly expenses. andriano_cz/iStock / Getty Images Plus via Getty Images

We tend to underestimate our future expenses – here’s one way to prevent that

Understanding why people underpredict expenses could help them budget more accurately – and even encourage them to save more money.
The Postal Service has over 30,000 retail locations in the U.S, including off the Appalachian Trail in Caratunk, Me. AP Photo/Robert F. Bukaty

Postal banking could provide free accounts to 21 million Americans who don’t have access to a credit union or community bank

About a quarter of census tracts with a post office lack a credit union or community bank, making the US Postal Service an efficient way to help more Americans get low-cost bank accounts.
Businesses are structuring their lending practices to exploit loopholes in consumer credit laws. Shutterstock

Four common debt traps: payday loans, consumer leases, blackmail securities and credit ‘management’

Here are the four common lending practices identified by the Australian inquiry into credit and financial services targeted at those at risk of financial hardship.
Access to small loans is getting easier, but not everyone is resilient enough to manage their finances. Image sourced from shutterstock.com

Four reasons payday lending will still flourish despite Nimble’s $1.5m penalty

The payday lending sector is under scrutiny again after the Australian Securities and Investment Commission’s investigation into Nimble. After failing to meet responsible lending obligations, Nimble must…
Easing your path to lending. Thomas Hawk

How to bump up your credit score

One day, your Facebook posts and Tweets might convince lenders to drop you some cash. Until then, here are five simple ways to help open up the bank vaults.
How much do alternative financial services aimed at people on low incomes contribute to their indebtedness? Image sourced from www.shutterstock.com

Payday lending vacuum makes regulation difficult

Despite an emerging market in alternative financial services for people on low incomes, little is really known how these Australians manage their money.

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