Posts Tagged ‘payday’

City Attorney Dennis Herrera Stars in “Call Me Baby” Parody for the Money Mart Settlement – Deadline Oct 1st

Saturday, September 15th, 2012

Here it is:

I was waiting for a stinger at the end, maybe involving DJH, you know, bookends, but anyway, all the deets:

“San Francisco City Attorney Dennis J. Herrera and Money Mart (also known as Loan Mart) have reached a settlement requiring Money Mart to repay California consumers up to $7.5 million

How much is each repayment?

Repayments will range from $20 to $1,800.

Who is eligible to make a claim for repayment?

You are eligible to make a claim for repayment if:

1) you borrowed a pay day advance loan (sometimes called a “Cash ’til Payday” loan) at a Money Mart or Loan Mart store between January 2005 and July 2005, or

2) you borrowed an installment loan (sometimes called a “CustomCash” loan) at a Money Mart or Loan Mart store between July 2005 and March 2007.

(more…)

Will the “PayDayPlus SF” Program be a Better Place to get a Loan Against Your Paycheck? Yes!

Monday, December 14th, 2009

From Mission Mission, the website so nice they named it twice, comes word of the new PayDayPlus SF program. The upshot: If you ever need money before your paycheck comes, you can get an emergency loan from a San Francisco credit union instead of a regular payday loan place:

“Sold to consumers as short-term relief during a cash crunch, pay day loans carry interest rates of over 400 percent and catch working people with a steady source of income in a long-term debt trap. On December 17th at 11:30am, San Francisco City leaders, in partnership with local credit unions, will help relieve this burden on hardworking San Franciscans by launching PayDayPlus SF, a low cost emergency loan available to City residents at 13 locations.”

Does the Money Mart at 7th and Market actually charge more than 400% interest when it gives you a payday loan? No se, but I’m betting you’ll get much better terms from PDP SF.

IMG_0561

A lively late-night scene in Mid Market.

Mark your calendars for Thursday, December 17th, 2009 – that’s the day we’ll get all the deets on PayDayPlus San Francisco.

How will it compare with this outfit from down south or the Check-Cashing King of the Mission? Stay tuned….

Springing the Debt Trap — for San Franciscans and Californians

Launch of PayDayPlus SF Followed by a Panel Discussion

Sold to consumers as short-term relief during a cash crunch, pay day loans carry interest rates of over 400 percent and catch working people with a steady source of income in a long-term debt trap.

On December 17th at 11:30am, San Francisco City leaders, in partnership with local credit unions, will help relieve this burden on hardworking San Franciscans by launching PayDayPlus SF, a low cost emergency loan available to City residents at 13 locations. and Mayor Gavin Newsom, stay to participate in a community conversation about PayDayPlus SF and learn how you can spread the word to San Franciscans about this new low cost loan to help weather tough economic times. You will also learn more about the problems caused by conventional pay day loans and how your organization can help push for proposed financial empowerment solutions that are moving forward in Washington, DC and Sacramento.

A community conversation following a joint press conference with City Treasurer José Cisneros

Participants
José Cisneros
City Treasurer of San Francisco

Paul Leonard
California Office Director, Center for Responsible Lending

Luis Granados
Mission Economic Development Association

Olivia Calderon
Legislative Director, California Asset Building Program, New America Foundation

Steven Stapp
President and CEO, San Francisco Federal Credit Union

Anne Stuhldreher
Fellow, California Asset Building Program, New America Foundation