Islamic Banking and Finance HSBC Amanah - Riyazi Farook
Payday loan industry launches major ad campaign (KVAL Eugene)
Payday loan industry launches major ad campaign (KVAL Eugene)
For years, the payday loan industry has kept a low public profile - quietly taking blows from consumer advocates and politicians critical of its high interest loans. Now, a national association of payday lenders is playing offense with a major ad campaign.
The Bank of New Zealand has lifted its interest rate for cash advances on its Lite Visa credit card by more than 50 per cent. From February 1 cash advances will be charged at 22.2 per cent, up from 13.75 per cent. Purchases on the low-rate card will continue to be charged at 13.75 per cent.
CREDIT card holders will be slugged between $10 and $20 for a single cash advance under controversial new rules on ATM fees to be introduced by the Reserve Bank.
Congress laid the foundation for President-elect Barack Obama’s economic recovery plan on Thursday with remarkable speed, clearing the way for a new infusion of bailout cash for the financial industry.