Social Funds

ZayZoon Proposes To Shake Up The Payday Loan Market

ZayZoon, a Canadian startup promising to tackle the payday lending industry through an app that allows workers to borrow money and have it automatically repaid through their paychecks, has won the Fintech Cup and 20,000 $ at the Payments Panorama conference. The Calgary-based squad – which beat four other finalists …

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Payday lender charging 500% interest sued

Payday lender Moola, which charges interest rates of over 500% per annum, faces legal action for its lending practices. Trade Commission is suing Fintech Limited, which operates as Moola, in the High Court and alleged that the company violated responsible lending practices under the Credit Contracting and Consumer Finance Act …

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Maple Ridge bans new payday lending centers

New payday lending centers that promise short term loans and instant cash are now prohibited from being opened in Maple Ridge, BC. There are currently six such businesses in the city, but the city council recently passed a bylaw prohibiting any new businesses from setting up. Councilor Tyler Shymkiw, who …

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Payday loan companies offering clients up to £ 1,000 if they convince friends to lend money with huge interest rates

Exclusive: But consumer watchdogs have lambasted companies such as Amigo Loans and BrightHouse for the ‘unethical’ practice BrightHouse high interest loan company is offering £ 220 if people introduce friends and family ( Image: MANCHESTER EVENING NEWS) Lenders offer clients money to attract friends and family to their books. High …

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