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Changes to payday-lending practices are earning praise from anti-poverty group BC ACORN.,The provincial government is reducing the maximum fee for borrowing payday loans, from $17 to $15 for every $100 borrowed.,Limits on fees for cheque cashing, and high-cost loans, will go into effect on Sept. 1, 2018, as follows:,* Extending the payday-loan agreement cancellation period, so a payday-loan borrower now has two full business days to cancel the loan without penalty.,* Prohibiting payday lenders from requiring, requesting or accepting consent from a borrower, to use or disclose their personal information for anything other than for arranging or providing a payday loan.,* Clarifying payday lenders' data-reporting timelines. The receipt of more timely data will help Consumer Protection BC to focus its education and compliance efforts, and the data will help to inform government about trends and changes in the industry.,Limit fees for cashing social and disability assistance cheques:,...

The voice on the other line — from one of the many payday lenders in her neighborhood — says they miss her. Do you need any extra money? the voice asks.,For years, Williams spent every payday driving to as many as nine stores in three separate towns, paying an $87 fee for each $400 loan she had taken out.,Jennifer Williams, a high school teacher in Cleveland, Miss., conquered $4,000 of debt from multiple high-interest payday loans. Williams believes these lending stores are sucking the life out of people.,I was taking out payday loans to pay bills after I had spent the majority of the money (in my paycheck) on payday loan fees, said Williams, a high school teacher in Cleveland, Miss.,Williams finally whittled away the $4,000 debt she accumulated from multiple payday loans after taking a financial course in 2014 from Arkansas-based Southern Bancorp, which offered a lower-interest loan upon completion.,Youre making fools of us, she said of the payday lenders. You know we need it and you...

Lee Miller, a spokesman for the Arizona Community Financial Services Association, a trade group whose members include the former payday lenders, said the auto lending products are the low-cost payday alternative. They [lenders] are not focusing on the collateral of the loan. They are saying: 'Come see us for a loan — we now offer loans that are 50 percent cheaper than a payday loan,' which is absolutely true. And they're still many times higher than the rates charged by traditional lenders.,Miller contends you can't operate a storefront lending business if interest rates are capped at 36 percent. Nearly all offer some variation of the auto title loan product, but they are also experimenting with other consumer loans, check cashing and prepaid debit cards. payday loans yuma az He estimates auto title lending may be 60 percent of some lenders' business.,In traditional auto title loans, which have been around for decades, the lender assumes title of a car for the li...