Monthly Archives: August 2010

A move to curb electronic payment of payday loans

By doug | Published: August 1, 2010

The National Consumer Law Center is now sponsoring an effort to change laws to prevent payday loan centers from using electronic bank transfers to receive payments from Social Security recipients. The center has drafted model regulations that would cap payday loan interest rates at 36 percent, and would require financial institutions to evaluate whether a […]

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Massachusetts extends foreclosure relief

By doug | Published: August 1, 2010

A new Massachusetts law passed this week extends the state’s foreclosure relief for homeowners, attempts to protect renters from eviction, and mandates negotiations between mortgage lenders and debtors. The law extends the “right to cure” period from three months to almost five months if lenders do not attempt to negotiate a loan modification with the […]

Posted in Bankruptcy News, Foreclosure | Comments closed
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