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Archive for the ‘Personal Loans’ Category

Questions and answers
SECTION 1. THE CONSUMER CREDIT SWEEP
The Consumer Credit Sweep is an EU-wide investigation of websites offering common consumer credit to consumers (personal loans, credit cards, car loans). National enforcement authorities examined more than 500 websites across the 27 Member States plus Norway and Iceland during the last week of September 2011 to see where consumer rights are being compromised or denied.

What is a Sweep?
An EU-sweep is a joint EU enforcement action to check for compliance with consumer protection laws. It involves a targeted and coordinated check on a particular sector. National enforcement authorities then follow up, contacting the noncompliant business operators demanding that they come into line with the relevant requirements. Legal action can be taken against operators who violate EU consumer law. National authorities investigate and take enforcement actions for national cases. For cross-border cases, enforcement authorities request assistance from colleagues in other Member States (eg where the trader operates from another country). This is done via the Consumer Protection Co-operation Network of national enforcement authorities from 27 Member States, Norway amp; Iceland.

Why were consumer credit websites picked up for this sweep?
We know from our Consumer Markets Scoreboard1 that the financial services market (including consumer credit) is underperforming for consumers. Also, complaints have been made to the European Consumer Centres (711 in 2010). The 2011 Sweep offered an opportunity to verify to what extent the financial sector is abiding by the information obligations imposed by the Consumer Credit Directive. This law (recently transposed in Member States) introduces harmonised requirements on information to be included in advertising consumer credit and to be provided to consumers in the pre-contractual phase as well as in the credit agreement itself. It aims to make it easier for consumers to understand and compare offers.

What sanctions can be taken?
EU consumer laws are enforced – and sanctions and penalties are therefore set – at national level. Measures can include contacting a company demanding it change or cease an illegal practice, imposing and collecting fines. Enforcement authorities are obliged to take measures (repeatedly if need be) until the infringement has ceased.

SECTION 2. RESULTS OF THE INVESTIGATION BY MEMBER STATE
Of the 562 websites checked, only 30% passed this sweep test for compliance with the relevant EU consumer rules and 70% of sites (393) were flagged for further investigation.

Member States were free to choose the number of sites to check (whether to optimise resources or for other reasons) and so some checked more sites than others. For the same reasons, websites found to be failing in the past were more likely to be assessed.

Table 1. Number of websites checked during the sweep and number of websites that need further investigation by country

Sites flagged for further investigation
Country
Total number of websites checked
Total no. flagged sites
Flagged cross-border cases
Flagged national cases
Austria
10
6

6
Belgium
93
89

89
Bulgaria
6
0

0
Cyprus
10
10

10
Czech Republic
10
9

9
Denmark
11
9

9
Estonia
15
12

12
Finland
5
4

4
France
50
11

11
Germany
26
20
5
15
Greece
1
0

0
Hungary
16
11

11
Iceland
10
0

0
Ireland
2
0

0
Italy
15
12

12
Latvia
9
7

7
Lithuania
5
3

5
Luxembourg
20
12
7
5
Malta
5
5

5
Netherlands
45
36

36
Norway
27
18

18
Poland
10
5

5
Portugal
40
14

14
Romania
20
11

11
Slovakia
10
10

10
Slovenia
0
0
Spain
29
29
1
28
Sweden
15
12

12
United Kingdom
47
38

38
29
562
393
13
380
SECTION 3. ABOUT THE CONSUMER CREDIT SWEEP
Who participated in the sweep exercise?
All 27 EU Member States plus Norway and Iceland participated2.

Link to national press contacts:

http://ec.europa.eu/consumers/enforcement/sweep/consumer_credits/national_press_contacts_en.htm.

Why does the sweep need to be done with pan EU co-operation?

Deceptive online selling practices often concern operators located abroad. They can be detected and tackled more effectively with EU wide co-operation. Under the Consumer Protection Cooperation Regulation, European authorities co-operate together to suppress cross border illegal practices. The network may examine any problematic sector in the EU at the same time. It may share experience and exchange best practices or tackle emerging new threats. This cooperation reduces fragmentation in the European internal market. Harmonised rules and enforcement are beneficial for consumers as it provides comparable and fair choices. It is also good for reputable business as enforcement tackles unfair or rogue practices ensuring a level playing field and fair competition.

Which types of consumer credit products were examined in this sweep?
Given the wide range of different consumer loans/credits on the market, this sweep was limited to the most common types of consumer credit falling within the scope of the Consumer Credit Directive. Sweepers were free to decide how many types of credit would be checked on any one site.

Revolving credit: this is open-ended credit where the credit line revolves – for example you have a credit ceiling of 1000EUR, you use 200EUR and once this is repaid the 1000EUR ceiling is available once again. Examples of revolving credits are overdrafts and credit cards.

Credit cards – this is a type of revolving credit.

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It pays to save. Compare the best credit cards, home loans, savings accounts and personal loans from all the major NZ banks and institutions in one place.
Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

The regrettable truth is the fact that unemployment figures are getting even worse. Exactly where the moment a effectively educated particular person might be assured of gaining a good occupation, right now these kinds of qualifications provide minor gain. There exists tiny or no stability in employment, which wont bode very well with regards to applying for unsecured personal loans.

Whenever a money catastrophe takes place, it can be hard to locate a answer. For your unemployed, personal loans seem to be a one particular in a very million shot considering that, most creditors typically turn down jobless candidates. Nevertheless the fact is, although secured loans are generally less difficult to attain, youll find financial institutions whore eager to supply unsecured loans for your unemployed.

Of course, the difference in between the 2 types of loans is usually that unsecured loans have almost nothing to work with as collateral, so nothing of worth might be taken from the loan company in compensation in case the mortgage goes unpaid. The main benefit using this option is always that no precious possession can be misplaced. But the downside is usually that discovering loan providers who give this kind of loan is more challenging, and any that do ordinarily deliver these unsecured personal loans at better interest fees.

Loan Terms and conditions

According to the work report of an individual applicant, not minimum the work prospects they might have, financial institutions are inclined to supply a array of loan sums around an even better variety of mortgage durations. For the unemployed, personal loans of any large total are incredibly hard to get approval on. The reason is relatively evident, together with the genuine capability to spend limited by insufficient employment.

Having said that, the duration on the mortgage, is likewise a important component, with periods of approximately 10 several years readily available. This means the regular repayments on such unsecured loans for the unemployed are decrease, but remember that the actually number paid in interest will be quite substantial far too.

The problem may be the charge of curiosity the unsecured personal loan has. This really is a thing that could be set in keeping with a variety of components. Its something to obtain viewed credit score scores fall, but if an applicant has actually been ruled bankrupt then the possibility is perceived for being increased nevertheless. That frequently results in an even higher fascination amount currently being set, but even in these situation, and even with remaining unemployed, personal loans are however accessible after personal bankruptcy.

Function in the Loans

Considering that there is absolutely no actual restriction towards the objective of unsecured loans, for that unemployed, there may very well be a temptation to utilize the extra funds for much less critical usually means. This could have an influence around the selection on the loan providers. One example is, obtaining a mortgage to get a car, or make enhancements to the home, are regarded as good debts, or loans that happen to be of some type of monetary reward.

Having said that, unsecured personal loans used to finance a summer months getaway is deemed a negative unsecured debt, since the cash put in is gone permanently. There is nothing at all possessed for a result of shelling out the cash. Should the lender suspects a poor unsecured debt is at the rear of the enthusiasm for the loan software, then it is very likely for being rejected.

The very fact is usually that, for everybody not just the unemployed, personal loans can alleviate some of the economic pressures. The assistance that it may possibly deliver could make lifestyle simpler, resurrect money stability and assistance the borrower to rebuild his / her life. Lenders are happy to play their component by supplying unsecured loans for that unemployed to ensure debts is usually consolidated and handled superior.

Usually try to remember, nevertheless, that discovering the appropriate lender with the ideal offer on unsecured personal loans is made a lot easier if the lookup is taken into the world-wide-web. By evaluating costs and phrases, the lowest loan is often located and the street to economical protection, even for the unemployed, is more obtainable.

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Mamp;S Money is offering £10,000 at a rate of just 6 per cent over five years and that isnt the only good deal out there as providers move their rates lower in a mini price war.

However, we are not in reality returning to some sort of pre-2007 where personal loans were virtually as cheap as mortgages. Rates diverge markedly at different borrowed amounts and periods of loans.

Borrow a large sum – over £7,500 – and pay back over three, four and five years and rates are low but look at smaller amounts and over shorter periods and the interest charged escalates. Expect to pay at least 18.9 per cent and most deals on offer are for existing customers only.

There has long been an anomaly that shorter-term borrowing attracts higher interest than longer term – its a combination of having to absorb the costs of setting up the loan and the lenders concern that individuals that need to borrow relatively small amounts over short periods are probably maxed out on their credit card or authorised overdraft facility, a more obvious source of short-term lending.

Try to borrow £1,000 over six months and there is only one mainstream lender in the market, Bank of Ireland which will lend at a rate of 29.6 per cent including an arrangement fee of £65. Weve never had such a paucity of choice and high rates – relative to larger loans – in this space.

Now banks will say they cater for this through overdrafts and credit cards but there is a definite need as exposed by the shocking Shelter report last week that a million of us are using a payday loan at charges of up to 4,000 per cent to pay our mortgage or rent.

At the other end of the loan scale, the Bank of England has said, as predicted in this newspaper, that there will be more higher loan to value mortgages available in 2012. But lenders will be tightening criteria so a smaller percentage of borrowers will get the choice cuts.

There have always been credit have and have-nots in our society, but its never felt as acute a situation as it does today.

Thank you EU

So, who says the EU doesnt do anything for us Britons? From this week you should notice many of your electronic payments going into and out of your current, savings or credit card account at a more rapid rate. An EU directive has come into force forcing banks and other financial institutions to deal with electronic payments within 24 hours.

This means that instead of using Bacs – which can take three days – a faster payment system will have to be used which should be almost instantaneous. No more should you have that frustrating wait for money to transfer into your account and be told by your branch if you want it to move any faster youll have to arrange and pay for a Chaps transfer.

For example, if you pay your credit card online or by telephone banking then it will be credited that day. If you pay a bill by the same methods then this will also leave your account that day and arrive the same day at its destination. If you go into a bank branch and pay off a bill with cash that will now clear that same day. In the past some banks would hold onto this cash for three days making money in interest themselves. Standing orders will also move in the blink of an eye.

The good news is that these changes should help avoid penalties for late payments of credit card bills and should reduce the number of overdraft charges.

But there is one payment method noticeable by its absence. The good old cheque. It can still take up to 10 days to clear a cheque – more usually three or five. When the overhaul of the cheque system promised by the UK banking system – after the furore of the proposed phasing out – the ridiculous and seemingly arbitrary number of days payments take to clear should be a priority. Maybe we could have an EU directive for that rather than wait for the banks?

Not such a great payday

On payday loan companies again, apparently one firm is offering Facebook users an incentive to leave tributes on its page. The best tribute attracts a whole £25 payout – equivalent to one week interest on a £200 loan.

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

Most people ?r? aware ?f th? events that ma? leave ??u high and dry ?nd in desperate ne?d of cash in ? hurry. When ?our boiler n?eds replacing, ??ur major household appliances suddenly pack it in, or y?ur vehicle ne?ds repairs t? g?t ?t back ?n the road, you will n??d t? find money up front and chances ar? these expenses w?ll occur ?t a time when y?u c?n l?a?t afford them. Thats when a payday cash advance loan can ??rt??nly help ?n providing you w?th quick ?nd easy access t? extra cash when y?u n??d it.

In many cases ? payday cash advance is an easier and mor? affordable alternative t? ?th?r finance options. Most ?ften than not, personal loans m?y require you t? borrow ? minimum amount th?t is ?ften a lot m?re than you actually n?ed and b?cau?? ?f the length of the loan ??u w?ll end u? paying ? lot more in interest ?ver the term ?f th? loan. For these reasons ?t can make m?r? sense t? t?k? out a payday cash advance ?n order to meet these expenses.

Another reason wh? ??u m?y decide to opt for ? payday cash advance loan ?n preference ?v?r a personal loan, i? that ? payday cash advance can generally be obtained b? an?one f?r ?ny reason. Unlike ? personal loan, a payday cash advance requires n? credit checks ?nd ?? even if ??u have a bad financial history ?ou c?n ?t?ll gain approval for a short term loan ?f this nature. The minimum criteria y?u will be required t? meet in order t? obtain a payday cash advance i? th?t you are in full time employment, are ?v?r th? age ?f eighteen, and h?v? an active checking account.

At times wh?n people are in desperate n?ed for extra cash to meet unexpected bills, th?? generally c?nt wait and require th? money immediately. The beauty of a payday cash advance ?? th?t ?t c?n b? applied f?r with?n minutes ov?r the Internet and th? application process is completely hassle free.

All that ?ou are required t? do ?n order t? apply f?r ? payday cash advance ?? to complete ?n online application form ?nd submit ?t electronically t? the payday lender. Your quick cash loan ??n be approved quickly and y?u can receive ??ur money ?n ?our bank account w?thin an hour.

There ar? man? reasons why people may n??d to obtain ?ome extra cash, but there ?l?? m?n? other reasons wh? ?ou would w?nt to obtain th?? money thr?ugh ? payday cash advance. No other loan i? easier t? apply f?r and offers s?m? day approval t? practically anyone, ev?n th?se wh? have bad credit. In addition t? this, th? loan terms ?f cash advances ar? short and settlement ?f th??e loans i? usuall? required with?n a month. The great thing ?b?ut th?s is th?t ??u w?nt h?ve ? long term debt hanging over ??ur head th?t will end u? eating away ?t ?our monthly budget and costing ?ou ? fortune ?n interest.

Whenever ?ou find ?ourself with unexpected expenses th?t has ??m? ab?ut ?t the wrong time in ??ur pay period then c?nsid?r h?w a payday cash advance ?an help you.

Cash Cow Advances is a leading nationwide service provider of online cash advances and payday loans.

The cost of taking out a personal loan has risen by a quarter at two of the largest retail banks.

Jointly owned ANZ and National banks will increase application fees for personal loans from $200 to $250 on January 23.

The hike makes the initial cost of taking out a personal loan the same at all of New Zealands major banks – including ASB, Kiwibank, Westpac and BNZ.

A spokesman for ANZ and National said the fee was changed to reflect wider market conditions and was in line with similar fees charged by its competitors.

The new fees related only to new and additional personal lending and would not affect existing loans.

The announcement follows a year of strong New Zealand profit announcements by the Australian-owned banks, prompting Consumer NZ chief executive Sue Chetwin to urge would-be borrowers to shop around for the best loan rates.

Personal loans are often used to pay for cars, holidays, appliances and other personal items at interest rates ranging from 13.1 per cent to 18.95 per cent, depending on the bank and whether the loan is secured or unsecured.

A Consumer review last year found credit unions generally charged lower application fees for personal loans than mainstream banks, however lending criteria also varied.

As of yesterday New Zealand Credit Union Aucklands advertised personal loan processing fee was $50 for loans under $2,000 and $125 for loans $2,000 and over, while The Co-operative Bank (formerly PSIS) charged $200.

ANZ, the countrys biggest bank and owner of the National Bank black horse logo, reported net profit in New Zealand of $1.08b for the year to September, up 25 per cent on the previous year – an improvement it attributed mainly to a big drop in provisions for bad debts.

In August, Reserve Bank Governor Alan Bollard told a NZ Shareholders Association conference that the high rates of return banks had enjoyed over the past decade were unlikely to be sustained if householders and businesses chose to curtail debt and save more.

While profits were strong, work carried out by the Reserve Bank suggested margins charged on financial products such as residential mortgages were in line with those charged in other countries, supporting the view that strong profits were due to low operating costs, he said.

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

Online lending resource for loans with bad credit approval standards announces recommended offers for 2012 to meet post-holiday demand. New lenders offering short term, and long term money borrowing opportunities for people with bad scores have been selected to meet the after holiday money needs of consumers feeling the pinch after the holiday season.

Fort Lauderdale, FL (PRWEB) December 27, 2011

The holiday season leading up to Christmas and New Years is typically a high demand borrowing season as consumers search out money to meet Holiday shopping demands. With the current economic troubles, consumers are having trouble coming up with cash to pay for gifts, groceries, or holiday trips to spend time with their loved ones, according to ReallyBadCreditOffers.com. According to the site, the run-up to New Years is busy, but consumers really feel the pinch after Jan 1, as borrowers scramble to find emergency loans for bad credit following Holiday spending.

The loan comparison site specializes in connecting consumers with a bad credit history to services and offers with flexible qualification standards. Providing recommendations as to the top credit cards, credit repair, consolidation loans as well as bankruptcy help, the site has helped 10s of thousands since its creation in 2008.

The holiday spending brings with it a rude awakening when the bills come due in January, 2012. With average rates on credit cards ranging between about 17% up to as high as 29%, according to the site, bills can quickly become unmanageable.

One of the quickest ways to get financial relief is by using debt consolidation to lower monthly payments, putting money directly in the borrowers pocket, said Ariel Pryor, offer comparison expert.

The site works to empower visitors by showing what help is available at a glance so that each person can choose what offer is most appropriate for their situation. Everybody deserves another chance, a helping hand at this point is often when it is needed most, said Pryor.

“There is nothing more depressing than entering a brand new year with added debt that a consumer is not prepared for, because one missed, or late, payment can send the interest rates skyrocketing. The new year is a time to rebuild ones financial future on firmer ground,” added Pryor.

ReallyBadCreditOffers.com was built to provide consumers with the facts regarding bad credit loan offers, bankruptcy, credit repair, bad credit car loans and other financial challenges. The financial products available include personal loans, secured personal loans, payday loans, debt consolidation loans credit cards and counseling services.

The options are varied, but they all have one factor in common, they are relatively easy to get because they are designed for people with bad credit scores.

The rates can vary widely between the lenders, and ReallyBadCreditOffers.com allows the consumer to comparison shop before applying.

About ReallyBadCreditOffers.com

Serving the bad credit loan market since 2007, the staff has helped thousands find the information necessary for the bad credit loan consumer to get the best possible interest rate available with the least amount of paper work in the shortest amount of time.

Contact:

Ariel Pryor, Loan Researcher

http://www.reallybadcreditoffers.com

(520) 344-2001

# # #

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/12/prweb9064162.htm

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

It pays to save. Compare the best credit cards, home loans, savings accounts and personal loans from all the major NZ banks and institutions in one place.
Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

HELENA – Once candidates file their campaign finance reports,
the documents are scrutinized like a doctor examining a
patient.

The only difference is campaign finance reports are not
confidential and are studied by their opponents, reporters and
anyone else.

The cold, hard numbers in these reports reveal a lot about the
fiscal health of the campaigns.

Is the candidate’s money still coming in at a good clip or has
it dried up? Where’s the money coming from? Is a candidate propping
up a campaign with his own money through personal loans or
self-donations? How is the candidate spending it? Is the candidate
stockpiling as much money as possible for later advertising when it
counts or blowing much of it on overhead now.

Of course, there are other more subjective ways to evaluate
campaigns. We can look at the candidates’ stands on issues, their
on-the-ground campaigning, debate performances, grass-roots support
and enthusiasm, volunteers, endorsements and a host of other
factors. However, none of these are as easily compared as are
campaign finance reports.

Those running for Montana governor and other statewide offices
filed their reports Thursday, and federal officeholders will do so
in a week. State reports may be found at:

http://campaignreport.mt.gov/.

Montana law allows a candidate in a contested primary to raise
money for both the primary and general elections. A donor now may
give a candidate for governor a maximum of $630 per election or
$1,260 for the entire campaign.

The trick is that only the money raised for the primary can be
spent in the primary. Primary winners can shift any leftover cash
after the June election into the general election treasury.

Reporters tend to focus on the total amount of money raised for
the entire primary and general campaign to show candidates’ overall
financial strength and the money left in the bank, or the total
cash on hand.

But the most relevant figure right now might be how much cash on
hand each candidate has left for the June 5 primary.

Here are some observations on the financial reports for some of
the eight Republicans and two Democrats running for governor who
turned in complete reports:

Most cash on hand left for the primary:
Democratic Attorney General Steve Bullock of Helena tops all
candidates with $231,819, and former US Rep. Rick Hill of Helena
leads his eight opponents with $217,145. Trailing Hill are two
Billings Republicans, former state Sen. Corey Stapleton at $100,063
and state Sen. Jeff Essmann with $65,131.

Least cash on hand left for the primary: Among
Republicans, Drew Turiano has $2,218 left, while state Sen. Ken
Miller has $2,467. The only other Democrat, state Sen. Larry Jent
of Bozeman, has $6,788.

Most cash on hand for the entire campaign: Hill
leads Bullock, $283,695 to $279,848.

Least cash on hand for the entire campaign:
Turiano has $2,846.

Most money raised for just the primary in the last quarter:
Bullock led with $135,413, followed by Stapleton with $96,310,
Essmann with $78,202 and Hill with $75,319.

Least money raised for the primary in last
quarter: Republican Jim O’Hara, a Chouteau County
commissioner, raised $3,585, followed by Jent at $12,275.

Most campaign money collected for both the primary and
general for the latest quarter: Bullock raised $160,692,
followed by Stapleton at $101,650, Essmann at $85,892 and Hill at
$81,399.

Least money collected for the primary and general in the
quarter: O’Hara raised no general election money so he had
$3,585, and Jent had $12,445.

Most impressive debut: In his first report,
Essmann raised $78,202 this quarter for the primary.

Biggest campaign financial comeback: Stapleton
revived his campaign financially by raising $96,310 for the
quarter.

Campaigns that would be in the red without personal
donations or loans: If Miller hadn’t loaned his campaign
$5,000, his campaign would have ended up underwater Dec. 31.
Likewise, if Republican Neil Livingstone hadn’t donated $27,500 his
campaign would have had a negative balance then.

Largest self-donors or lenders to their own
campaigns: Stapleton previously loaned his campaign
$50,000, paid back $10,000. This quarter he donated an additional
$10,000. Livingstone has donated $27,500 to his race. Turiano has
loaned his campaign $23,000.

Highest quarterly campaign expenses: Bullock
and Hill led the way, with $78,063 and $56,636 respectively.

Lowest quarterly primary campaign expenses:
Stapleton raised eyebrows by spending just $5,663 in the quarter,
while raising $101,650 for the primary and general. “I did what any
businessman did in this Great Recession. I raised revenues and cut
expenses.” He laid off 2.5 people, leaving only a campaign manager,
used free social media instead of paid traditional media and used
leftover supplies and postage.

Most unusual move: Bullock filed a stack of
amendments to previous finance reports along with his report last
week. He transferred money raised for the general election when he
was running for attorney general from 2009 to mid-2011 and shifted
it to his primary campaign for governor. Because the donation limit
for governor is higher than that for attorney general, it allows
him to seek more money from earlier donors.

Most consistent primary fundraising per
quarter: Hill has raised between $75,300 and $83,700 for
the primary each quarter, although he collected the least in the
past quarter.

Chuck Johnson is chief of the Lee Newspapers State Bureau in
Helena. He can be reached at (800) 525-4920 or (406) 447-4066. His
email address is chuck.johnson@lee.net .

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

Wednesday, 04 January 2012 12:31

The Co-operative Bank has reduced the rates on its entire range of personal loans by one per cent.

The new rates will be available from the 5th January 2012 and are available to existing customers who hold Privilege and Privilege premier account holders.

Existing customers who hold these accounts can borrow between pound;7,500 and pound;14,999 at 6.9 per cent rather than 7.9 per cent. For customers who want to borrow between pound;15,000 and pound;25,000, they will see a reduction in the interest rate from 8.9 per cent to 7.9 per cent.

For existing Co-op current account holders and Co-op members, the reduction for borrowing between pound;7,500 and pound;14,999 means they will be charged 7.4 per cent rather than 8.4 per cent.

New customers will also qualify for reduced rates, albeit higher than the rates applied to Privilege account holders and existing Co-op members.

New customers will be charged 7.9 per cent rather than 8.9 per cent for loans between pound;7,500 and pound;14,999 and 8.9 per cent rather than 9.9 per cent on loans between pound;15,000 and pound;25,000.

James Hillon, Head of Loans at The Co-operative Bank said: January is typically the time when many of our customers get their finances in order and as 2012 gets underway many people will be looking for some extra money to support their plans for the year.

Compare personal loans from a wide range of UK loans.

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Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.