Are ACE Cash Express cash advance loans an example of predatory lending?

Because the interest rates and terms of its cash advance loans are so onerous, some have described Ace Cash Express as one of a group of "modern-day loan sharks," as U.S. News & World Report points out. The Consumer Federation of America considers such lenders predatory.

The payday loans made by Texas-based Ace Cash Lending don't actually qualify to be called "payday" loans under the Military Lending Act, which defines payday loans or cash advances as lasting a maximum of three months, as the Huffington Post explains. As of 2013, Ace Cash Lending offered a five-month loan that charged an interest rate of 585 percent.

Visitors Who Viewed This FAQs Also Viewed

Are sea horses really dragon babies?

Scientifically speaking, no. As long as we know, there are no such things as dragons...

How do drugs affect your life?

they can kill you...

Two mutualistic relationships that fungi form with each other?

1. mycorrhizae-occurs on the roots of almost all vascular plants 2. lichens- forms from those of the..

What cars and trucks use a 6 x 5.5 bolt pattern?

There may be too many to list. If you are trying to cross reference a wheel to see if it will fit a ..

What exercise a should be done in 2month of preggnancy?

Join pregnancy classes ans of course you can do yoga at home check with your doctor what else you ca..

What is the average income of a construction estimator?

usually its money, but some get paid in trident triple layers...

Which countries do not have religious freedom?

Almost all countries in the world have solemnly declared that they have religious freedom, because i..

Friendly Links for World's Top 10 Famous Electronic Components Distributors
module ic | transistors mosfets | transistors mosfets | circuits transistors | the faqs | transistor ic | transistors circuits | ic transistor | datasheet ic pdf | module transistor | circuits components | transistor triac |