Aggressiveness and poor manners of a scam demanding money from Kentucky woman, Ruby Bush, on the phone made it clear there was a kind of a trick behind.

Recently, Colorado citizens have seen a new bill, named House Bill 1351. According to this new bill APRs for Payday Loans are capped at 45%. This innovation leaves no opportunity to develop payday industry taking into account high operating expenses and a number of customers who default on those payday loans.

The opponents of an initiative to cap interest rates charged by payday loan lenders were sent about their business by the Montana Supreme Court not meeting them halfway. The opponents asked a Helena district judge to prevent the secretary of state from certifying the cap for the November ballot.

The Billings Gazette published a letter containing controversial information on payday lending and the ballot Initiative-164 to come. The I-164 once approved will destroy payday loan industry, with people losing their jobs and opportunities to use payday loans as inevitable consequences.

Eight companies have been sued for offering payday loans online via internet in the state of West Virginia, where payday loans are entirely forbidden. Attorney General Darrell McGraw demanded them to stop giving payday loans.

Payday loan regulatory reform has brought payday loan careful public attention. The creation of an agency to regulate financial service providers terrifies cash till payday industry. To understand what is going on let's have a look!

What does the regulatory reform aim at?

"City should look at payday loans" editorial says the Consumer Service Alliance of Texas (CSAT) supports effective, reasonable, and meaningful regulation of small loans. CSAT asks the city and the Globe-News to take into careful consideration regulation-related facts before jumping into conclusions.

After the gravest mortgage collapse has overshadowed all similar ones over past decades, the concern about future of financial sector is arising. It is thought that a new agency will be sufficiently effective to regulate the financial sphere to prevent the recent crisis from recurring. The agency in question is called CFPB or the Consumer Financial Protection Bureau.

Arizona's citizens are facing hard times. The government has recently outlawed payday loan stores, leaving many people with no choice.

Up to now the cash till payday stores have helped people bridge the gap when they fell short. Now Arizonians are deprived of this viable option.