Payday lenders back in North Carolina?
March 5, 2008 | Fayetteville Observer, North Carolina, industry, media coverage, states | Comments (0)Good news for Advance America (and borrowers) in North Carolina. According to the Fayetteville Observer:
The N.C. Court of Appeals on Tuesday said payday lender Advance America should have another chance to fight for the right to issue payday loans in North Carolina.
The decision overturns a ruling by a judge in Wake County Superior Court that said Advance America missed a deadline to continue its legal fight to stay in business here.
Two cheers for Advance America for fighting the good fight in North Carolina. If Advance America is successful, payday loans could again be offered in the Tar Heel State.
NPR: Payday loans may benefit consumers
February 29, 2008 | NPR, North Carolina, customers, industry, media coverage, states | Comments (0)Kudos to North Carolina Public Radio journalist Janet Babin for this accurate, in-depth report on the payday lending industry in this piece from National Public Radio’s Marketplace program. The piece discusses new research that says payday loans can actually benefit consumers and that consumers in states without payday lending are driven to bounce checks or turn to other less desirable options.
The takeaway on this is simple – consumers benefit when there is competition in the marketplace.
