With the way the economy is going right now, any resource to be able to get money is potentially what all Americans are looking utilizing at some point. One resource for quick cash is the payday loan, and Leadpile works a lot with this industry and understands that there are a lot of consumers out there that truly have no other resources to get a short-term loan. Therefore, they turn to short-term loans like payday loans. Some criticize this sort of “temporary loan” as not the best option, however each person is different and each situation is different. This means that the solution to getting out of a “tough situation” could be different for each person. Some have chosen to not seek out a payday loan or have previously utilized them unsuccessfully and now are turning to pawn shops.
Pawn shops are seeing increased traffic in their stores because of consumers that are looking for that “other” option. The other contributor to more people visiting their local pawn shops is the History Channel’s television show Pawn Stars. Some see this option as more attractive than something like an auto title loan because they do not have to forfeit the rights of any collateral. No matter what your circumstances are financially, making sure to look at all your available options is key. Everyone should weigh the pros and cons of each solution.

Who will be holding the “control button” for short-term loan companies like payday lenders and auto title loan companies? Payday lenders are keeping an eye on particular states that have implemented payday loan regulations, however many thought the recent financial regulatory bill would supersede the states decisions. This is better news for the states that want to have control over the lending practices that their state payday lenders conduct. What will be the future of individual state lending practices? Will states continue to fight to be able to control what their residents do? Many are keeping an eye on this, and we will be keeping an eye on things ourselves. Leadpile works a lot with payday loan lenders and hopes that any changes that happen will result in positive things for both the lenders AND many consumers that need payday loans. Stay tuned……..

Arizona’s new law has drawn so much national attention recently that even the Justice Department has stepped in to file a lawsuit against the state. The new law, requiring immigrants to carry alien registration at all times and allowing authorities to question their residency status with reasonable suspicion that they are not in the country legally, is being seriously questioned.
The Justice Department is suing the states new law in violation of the supremacy clause in the Constitution. Along with many others who are fighting against the law, the Justice Department believes the law is too strict. Although it is federal law to illegally be in the country, the department believes this specific law takes it too far and causes further unnecessary problems with racial profiling. With the hispanic culture expanding throughout the country, it isn’t easy to to chose those who may or may not be living here legally, making it easier for even those who have legal papers to be harassed.
It seems that Arizona is in the news all over the place…. payday loan law going in effect this month, and now also the excitement surrounding the immigration law. Leadpile is located in AZ, so we all will be keeping an eye on all this EXCITING news!!!!

As the end of the month is approaching, business as the Arizona payday loan industry knows it will be changing. Arizona Attorney General announced this week that there will be a focus on the stores to assure the stores are not operating charging more than the allowed interest rate of 36 percent. Roughly 200 stores have currently made requests to stay open and transfer to a different business type such as car title loans.

Hopefully, the effect of closing these stores in Arizona will not leave consumers without anywhere to turn for emergency funds. Many consumers depend on payday loans to get them through tough times and rely on this fast way to receive funds..It will be interesting to watch, we will keep you posted…
LeadPile works with many payday lenders, connecting consumers in need to a direct source for funds.

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July is fast approaching for banks and their inability to charge overdraft fees to debit card consumers who use their debt card with not enough funds. In the current scenario, debit card consumers can have a transaction go through even if they do not have the funds available in their bank account, and then pay for it with high dollar overdraft fees. With this new federal reserve law that goes in effect for new debit card consumers in July (and in August for current banking customers) will not allow banks to charge overdraft fees to consumers that did not opt in for overdraft protection. In July’s scenario the consumer’s transaction will be denied versus processed and then charged high overdraft fees. This is now causing banks to scramble on how to recover from having all these “FREE” checking account offers they have in place. Where will the banks now make up for this lost revenue?
Is this really different than what a payday loan is? Why are banks not going through the same scrutiny as payday loan lenders are going through? Oh wait maybe the

Payday loan lenders are not going to be happy with the Wisconsin governor because of a recent bill he just passed. Unfortunately, this governor felt the need to pass a payday loan bill that will put tighter restrictions on the payday loan industry. In addition, he even threw something in the bill that is also going to put restrictions on the auto title loan industry too.
Each of these states putting more and more regulations on payday loans is going to leave consumers with no resources to help them. Where are consumers going to go now, in order to get help with small unexpected bills that come up?

It looks like the payday “police” have hit Colorado. There is a proposed payday loan bill that would put an interest rate cap on payday loans. The reasoning behind this bill is that some Coloradans believe, “that excess interest rates can lead Colorado families into a debt trap of repeat borrowing”. There are three separate proposed bills. One would put the rate cap at 18%, another at 28% and another proposed bill putting the rate cap at 36%. The unfortunate thing about these sorts of bill is that the potential rate caps would hurt the payday lenders and potentially not allow them to stay in business. This would then hurt consumers who are looking for a much needed payday loan. We will all be watching the outcome of these proposed bills.

We all know that there are a lot of states in our nation that have some sort of payday legislation, however how many of the laws that have been implemented in these states really created a better situation for the consumers? Consumers have limited resources on getting short term loans, so why does this industry continue to be put under a microscope?
To make matters worse (or better), many critics in the payday loan industry are now focusing their efforts on our nation’s banks. For example, The Minnesota Independent is reporting that many banks are offering advancements on their paychecks. In normal circumstances this sort of “advance” would not be in question, however banks are being able to avoid the scrutiny AND payday legislation that the payday lenders are unfortunately having to face.
So should our nations banks be able to provide “temporary” loans based on a consumer’s paycheck without the same regulations as payday lenders? These loans are very much needed by the consumers, so if the banks are even providing them, why should they not be treated the same just because they “sugar coat” what they call them?

Pawn shops are becoming a large source of quick revenue these days for consumers who need short term loans and do not have the option of a payday or bank loan. Pawn shops, which offer money in the $100 or less range in exchange for the consumers collateral such as a TV or hunting equipment. The pawn shop loans the money with an additional 5-10% interest rate added on, if the consumer defaults on the loan after a period of time (usually 30 days) the item being held as collateral becomes merchandise within the shop. Pawn shops success during the recession has been dependent upon these loans rather than the sale of merchandise.

LeadPile is excited to announce some new and improved changes to the seller account! These changes will help publishers locate the offers much easier.

Check out these new features under the offers tab:

*Click on the “Search Offers” tab to find all the available offers
*Clicking on “Available Categories” or entering key terms into the “Search Offers” box will bring up all of the current offers
*Top and average payouts are listed next to each offer
*MicroClick Forms, MicroClick iForms, Banners, Text Links, On Exit Ads and On Side Ads are all available for you to choose from.
We are always looking for new publishers, or even current publishers that are not currently generating leads, to get started! A great publisher site that Leadpile has helped out on is usainstantpayday.com. We can help with your site too if needed!
We are seeking more leads and traffic for payday loan, auto finance, business cash advance, Broadview Security system, New Millennium Bank, bankruptcy and more!

As a follow up to our recent posting regarding Arizona Payday loans, the Senate Appropriations Committee voted 5-3 against the bill that would have allowed lenders to continue offering the high-interest short-term loans with the proposed adjustments to the rules.
In Arizona there are currently 596 Payday Loan businesses that provide employment for 2,500 people. The risk of these people losing their jobs is high, as well as loan customers will have to turn to most likely more expensive options to receive quick cash short-term loans.
The bill would have allowed fees of $15 per $100 borrowed, restricted the number of loans an individual could take out at one time and allowed a customer to rescind the transaction if the money was returned within two business days.
LeadPile will continue to keep a close eye on this and keep you updated on any new developments or possible hope for the AZ Payday industry!

Arizona may have good news for the Payday loan industry this week as an amendment will be heard on Tuesday at 1:30pm. Adjustments suggested would restrict the number of loans a person could take out at one time, allowing fees of $15 per $100 borrowed, and also allowing the consumer to cancel the transaction if the borrowed money is returned within two business days. The amendment would require businesses to give at least 1.5 % of the fees it collects to “organizations that provide services to low-income and moderate income individuals” in their community.