Cash America International News

Cash-strapped consumers desperate for deals are increasingly turning to pawn shops and payday lenders instead of the local mall and neighborhood bank.

Cash-strapped U.S. consumers desperate for deals are increasingly turning to pawn shops and payday lenders instead of the local mall and neighbourhood bank.

Customers collateralize high-interest loans with such possessions as jewelry and electronics.

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A payday loan law on its way to enactment in Ohio will not apply to federally chartered credit unions, whose loan rates and terms are governed by the Federal Credit Union Act and NCUA regulation, NAFCU's ...

Stock prices for a pair of payday lenders with major operations in Ohio have taken a beating since state lawmakers started moving a bill that threatens to shut down the industry.

“Losing Ohio is a very significant signal for the direction going forward of what's going to happen with the industry”

Legislation designed to protect consumers may spell the end of profitable payday lending in Ohio . via SNL Financial

Shares of Cash America International Inc. fell Friday a day after the payday lender slashed its profit target and said it planned to shut down its business in Ohio. via Boston Globe

FORT WORTH, Texas - Cash America International, Inc. announced today that it anticipates the closing of up to 139 locations in response to newly passed legislation which will change the pricing and parameters ... via Earth Times

“Gas is $3.50 a gallon in some places, $3.25, $3.00, a little extra money helps me out right now so I'm happy with that”

At the Cash America pawn shop in Arlington, Texas, you could outfit, repair and protect your house with all that's on the shelves - the cast-offs of other people's lives. via ABC News

“One of the reasons we're seeing growth is, we're seeing customers make those economic decisions and seeing this is the cheaper alternative.”

By Teresa McUsic With the cost of food and gasoline soaring, the savings rate plummeting and the economy weakening, payday lenders are expanding, particularly in Fort Worth and across Texas.Cash America, based ... via Star-telegram.com

Payday lender Cash America International Inc. said it may change a cash advance product in Florida due to an administrative review of a similar product by a competitor. via Dallas Business Journal

Cash America International Inc. Monday said it might change the credit services organization product it offers in Florida because a competitor is offering a similar product. via Quamnet

“We're there to help them get started in the morning, get their prescriptions filled, get to their jobs, get gas money, whatever.”

As an economic recession forces some Kentuckians to scramble for cash, lawmakers are poised to help pawnbrokers sell the items hocked for 30-day loans.

The House Banking and Insurance Committee on Wednesday approved Senate Bill 195, which would cut the length of time pawnbrokers must hold items prior to selling them from 120 to 90 days, if loans are not repaid.

The bill's sponsor, Sen. Tom Buford, R-Nicholasville, did not attend the hearing, so lobbyist Russ Woodward, representing pawnbroker Cash America International Inc., stepped in to present the bill to the panel. Read more

“In the U.K., there isn't the stigma about pawn and payday loans that there is in the U.S.”

By Elizabeth Ody A recession may be the bane of most businesses, but it's a potential blessing for pawnshops. via The Washington Post

BOSTON BEER CO. surged 26 percent to $45.10. The maker of Samuel Adams lager forecast 2008 profit that exceeded the average analyst estimate by as much as 18 percent because of increased demand from consumers, ... via Asbury Park Press

“It's got a 20-gallon tank. Gas at RaceTrac is $3 a gallon.”

The patron leaving ACE Cash Express on South Cooper Street doesn't want to be identified, but he's otherwise comfortable discussing the fact that he's just borrowed $300 that he expects to pay back next paycheck. Or maybe over the next two or three paychecks.

For additional fees, of course.

'I think I may be the most profitable kind of customer that these guys have,' he says, gesturing at the ACE Cash door with a weary expression. 'A good, dependable slow pay.'

The borrower -- we'll call him Ford because that's what he's driving -- tells it like it is. Read more

Cash America International, Inc. reported today that it has increased its existing line of credit with a ten bank syndicate from $250 million to $300 million. via Earth Times

“As the filing entity, we do not hold any regulatory authority over CSOs”

Consumer credit organizations -- sometimes called payday lenders -- offer short-term loans for a fee. via News-journal.com

“Brief and shallow downturns in the economy may benefit our business model”

Hard times in the US are benefiting pawnbrokers as beleaguered consumers pledge jewels, electronics and other goods in return for loans with interest rates running as high as 300 per cent a year. via Financial Times