Many politicians have called for tighter regulations of the financial industry, after the 2008 credit crisis

“You see a lot of payday loans in the south, in areas where there’s manufacturing, where people work shift jobs or they work seasonal jobs, and they have limited Financial Services

Financial services is an industry that manages money invested in a range of products, from checking and saving accounts to retirement portfolios.

Advisory Board is a group of people who provide usually informal and non-binding advice to the managements of Gahanna online payday loans an organization. For example, an advisory board of a start-up company can help with strategic advice, introductions to funding sources and mentorship to the company’s founders.

Financial services is an industry that manages money invested in a range of products, from checking and saving accounts to retirement portfolios.

Needleman says concerns about inconsistencies in payday lending policies and borrowers’ ability to repay loans do need to be addressed. But she points out that some Data

Data are collections of observations regarding a set of items. These observations are typically numerical measurements, but can also include words describing items. The U.S. Census includes data on the ethnicities, incomes and sizes of U.S. households.

“Yes, it’s important to protect consumers from loans that they either shouldn’t be in or can’t afford to repay, I totally get that,” says Needleman. “But at the same time, these are a group of consumers – 30 to 40 million people who are under-banked or unbanked – who have no access to credit, and you are preventing them from using credit and having access to credit.”

For teens entering the work world for the first time, it is important that they become educated about the variety of financial products that can help – or hinder – them as they make decisions about managing money.

“What are the terms, what are the late fees? I wouldn’t just say go take out a payday loan. My advice would be if you are considering it, research it and find the best Product

A product is an object that one individual or company makes for purchase by another. A car company’s main products are its cars. A computer company’s main products are its computers.

A budget is a numerical expression of a proposed plan of action for a specified period. The Bluth Company’s sales budget has been set for 200,000 tables to be sold in the current financial year.

Related Links

  • Daily Mail
  • Atlanta Journal Constitution: Fed’s Proposed Curb on Payday Loans May Weaken Georgia’s Ban
  • Wall Street Journal: How Trump Will Impact Consumer Lending
  • KSFY: South Dakota Voters Improve Interest Rate Cap
  • Albuquerque News: More New Mexicans Using Services Like Payday Loans
  • Consumer Financial Protection Bureau
  • Argus Leader: Dollar Loan Center Not Closing

Conversation Starters

So much is written about the “predatory” nature of payday loans that it is often easy to dismiss the businesses that provide these loans. Who are they? Are they legitimate? Consider the Argus Leader article (found in the Related Links tab) that came out after the South Dakota vote on election day. Are all predatory lenders bad? Do they run viable businesses? Why or why not?

Joann Needleman says of payday loan users that, “these are a group of consumers – 30 to 40 million people who are under-banked or unbanked – who have no access to credit.” By taking away the payday loan option, she adds, “you are preventing them from using credit and having access to credit.” The payday loan argument has two sides. What are the advantages and disadvantages of payday loans? Does it make sense to outlaw them entirely, as some states have already done? Come up with several questions to research and explore and hash them out in a mock debate.