LANSING — The Michigan Senate voted Thursday to significantly cap what payday lenders charge borrowers for short-term loans, a big step forward for efforts to crack down on a "predatory" industry that ...

Payday loans seem like a convenient way to get some extra cash when you need it most before your next check arrives, but that convenience could come at a higher cost than you anticipated. These loans ...

More Americans are accessing wages early from companies like Walmart, Amazon and McDonald's as budgets are stretched, but ...

ORLANDO, Fla. – “Need money NOW?” “Instant cash!” “No credit check!” Not too long ago, your average payday lender was a strip mall storefront wedged between businesses like a laundromat, a pizzeria, a ...

The payday loan business is pretty simple. Clients generally pay a fee of $15 per $100 for a two-week loan. At EZ Money, the fee is $15 for $100, $25 for $200 and $35 for $300. For one-month loans, ...

(NNPA) – New research from the Center for Responsible Lending has found payday lenders are nearly eight times more concentrated in California’s Black and Latino neighborhoods as compared to White ...

In today's high-cost, high-stress economy, it can be tempting to turn to your short-term borrowing options, like credit cards and payday loans, just to stay afloat between paychecks. But while payday ...

More banks are offering customers small-dollar installment loans or lines of credit at lower costs than nonbanks as alternatives such as payday lenders fall out of favor with regulators. Financial ...

Lenders aren't there to help you out in a pinch. Payday loans increase your debt, so a small emergency becomes a lifelong burden that exploits your poverty.

LANSING — Michigan would limit interest and fees on payday loans under bipartisan legislation that supporters say would crack down on an industry that traps low-income residents in cycles of debt and ...

Proposition S will appear on the March 7 primary election ballot and ask voters to approve charging a $5,000 annual permit fee for short-term lending institutions – such as payday loan stores – to ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...