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Melissa Len — Thu, 26 Mar 2009 13:48:51 -0400

The payday lending industry orchestrated a phone-in campaign with consumers making phone calls to the Senate — from payday lending businesses — urging senators not to ban the loans, staffers said.
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Melissa Len — Thu, 26 Mar 2009 13:46:54 -0400

The payday lending industry has said tying loans to a borrower’s income would force them to close up shop in the Palmetto State. Senators listened and tossed the lenders a lifeline Wednesday. Payday Loan

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Melissa Len — Thu, 26 Mar 2009 13:45:09 -0400

Payday lenders offer short-term loans to consumers. The borrower writes a check to the lender for the amount being borrowed, plus 15 percent. The lender promises not to deposit the check for two weeks or until after the next payday. Payday Loans