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Follow on Google News | Convenient Internet Resource Gives Users a Road-Map to the Oregon Payday Loan IndustryCashAdvance.com Launches Consumer Protection Web Page to Help Oregon Citizens Navigate the Pay-Day Lending Process
By: Branford Lyles CashAdvance.com has created the Oregon Consumer Protection page at http://www.cashadvance.com/ “CashAdvance.com strives continually to ensure consumer protection by providing the knowledge and resources necessary for consumers to make informed financial decisions,” says CashAdvance.com spokesperson Hanna Wellman. “The Consumer Resource pages at http://www.cashadvance.com/ Unlike some other states, which have banned the practice outright, the state of Oregon allows cash advance businesses to operate within the state. However, the state has imposed a series of stringent regulations on the payday loan industry. Annual interest rates cannot exceed 36%; loan amounts, as well as fees and interest rates, cannot exceed 30% of a borrower’s monthly income; loan terms range from 31 to 60 days; loans may only be extended or rolled-over twice; and a consumer may have only one outstanding loan at a time. Because of these regulations, it is difficult to operate an Oregon cash advance business profitably in the state. However, there are roughly 450 payday lenders in Oregon to provide consumers with emergency funds. CashAdvace.com’ According to leading CashAdvance.com financial news expert Adam Hilliard, "Our Oregon Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in Oregon, equip you with practical advice for averting financial crisis, answer your myriad loan questions, and ultimately guide you on the road to taking control of your financial future." # # # CashAdvance.com was established in 1997 to offer people a quick, convenient, and secure method to get a cash advance online. End
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