Meet Wallet and Purse, the new CashNetUSA mascots. Be on the lookout for this CashNetUSA commercial and watch Wallet and Purse discuss the benefits of a fast-cash, online payday loan, while making ends meet.  Moreover, pay close attention, as we are offering an introductory promo code for your first loan while viewing this video.

A new book reveals the story of the short-term loan industry and how it came to be what it is today.

It’s hard to believe, but just a couple decades ago, those with less-than-perfect credit only had three options when cash was tight: bounce a check, borrow from family, or risk borrowing from loan sharks or other unsavory lenders.

Luckily, today’s consumers have more choices – including options like cash advances that are legal, regulated and safe. An honest new book, Broke USA, by journalist Gary Rivlin explores the rise of the payday loan industry and how it has helped and hampered today’s credit-needy consumers.

The Wall Street Journal praises the book for its honesty, but calls for more a more detailed look at how licensed  short-term lending has allowed poor-credit consumers to avoid more dire financial consequences, such as bankruptcy, unlicensed lenders and illegal loans. Reviewer, Katherine Mangu-Ward, writes:

“Yes, some people—who find themselves in a fiscal hole and respond with more vigorous shovel work—face mounting debts. Tales of poverty made worse by unrepayable loans are moving, and Mr. Rivlin tells them vividly. But almost completely absent from “Broke, USA” is a discussion of what might have happened to Poverty Inc.’s “victims” in the absence of Poverty Inc. It is indeed expensive to be poor: a loan of $100 for two weeks costs between $15 and $25, something like a 300% or 400% annual interest rate. But the money would not be available at all without the fee, and prompt payment dodges virtually all of Mr. Rivlin’s dire consequences. The best part about the commercialization of credit to the poor is what happens when someone can’t pay: phone calls, visits from collection agencies, tax liens, evictions and perhaps bankruptcy. No picnic, to be sure. But no crowbars either.”

Want to learn more? Read the full review.

One of the cornerstones of Washington’s latest financial regulatory overhaul is the creation of the Consumer Financial Protection Agency, an institution that will oversee most of the U.S. consumer finance market, including credit cards, mortgages and even payday loans. But in the end, will increased regulation help or hurt those looking for reliable credit options?

The executive director for the Consumer Rights Coalition, Gerri Guzman, explores this proposed regulation in a recent article and discusses how it could possibly hurt or help American consumers struggling to make ends meet and find reliable, safe credit solutions.

She writes, “When making policy that will change lives, there is no room for assumptions. Lawmakers need to talk directly to real consumers and listen to their stories. Not to the ’so-called’ consumer groups who pretend to speak for the consumer, but to an actual consumer who got a payday loan when his car broke down and he had no other way to get to work. And, to a consumer who needed a payday loan to pay for an unexpected trip to the emergency room. And, to the many consumers who carefully weighed their options for short-term credit — bouncing a check, overdrawing their bank account, not paying their bills on time — and concluded that a payday loan was their best, least expensive option.”

To read the article in full, click here.

For more information on the Consumer Rights Coalition and its goal of keeping reliable short-term credit options available to all consumers, please click here.

We recently sent a survey to consumers living in states where payday loan bans are currently being pushed forward in their state’s legislature. Here’s what they had to say about the proposed legislation and possible repercussions in a post-payday economy.

“A person’s financial issue is private unless the government itself is willing to give out easily accessible loans.”

“This is terrible. In a shrinking economy, wherein many more people are facing issues of credit worthiness, the availability of this service is important and vital to working class people, such as myself.”

“If the legislature is successful in their plan to ban short-term loan options, this would only create MORE of a hardship for those individuals that rely on them for unexpected emergencies – not less!”

What do you think about proposed payday loan bans in your state? Share your opinions with the Consumer Rights Coalition, an organization of over 100,000 Americans working to keep the right to short-term financial options.

Join today and have your voice heard!

With anti-payday loan legislation either already on the books or being proposed in many U.S. States, the Consumer Rights Coalition is helping hardworking Americans protect their right to reliable credit options.

Recent payday loan bans in states like Georgia and North Carolina have left many consumers without the financial options they need to cover emergency expenses between paydays. Not surprisingly, bounced check penalties, overdraft fees and bankruptcies have skyrocketed in these states in the years following short-term loan bans.

Now with more state legislatures – including Maryland and Arizona - proposing payday loan bans of their own, some consumers are standing up and telling lawmakers that they don’t want to lose one of their last remaining credit options. One grassroots organization that is helping these customers be heard is the Consumer Rights Coalition.

The CRC is made up of over 100,000 short-term loan users who are joining together to tell policy makers that laws meant to protect citizens’ financial health are actually hurting them by taking away a reliable and licensed financial product and leaving consumers with no choice but to rack up NSF fees or miss important payments.

If you have an opinion on anti-payday legislation and want your voice to be heard as well, join the CRC in its goal of protecting the financial rights of millions of hardworking Americans.

Join today!

We recently asked cash advance customers in Maryland, where anti-payday loan laws are threatening to take away consumers’ short-term credit options, what they would do without our emergency online services. Here’s what they had to say.

“The state I live in should not be able to control my borrowing practices. I have needed help to get through these difficult times… If I could not have access to quick money when I needed it, it would be devastating.”

“I would be faced with bank overdraft fees or some bills not getting paid, resulting in late fees or cancellations… a lot is at stake here!”

“There are no other ways to get short-term loans. That’s going to make it worse for the middle class people trying to make ends meet.”

“By attempting to protect those that need these services, [the state legislature] is actually hurting us and are cutting off vital resources at a time when there are no others. They have no idea how most of us live and how much we rely on this emergency cash service.”

Do you want your opinion on this matter to be heard? Join the Consumer Rights Coalition and speak up with others who are fighting for their right to reliable and regulated financial options.

Arizona lawmakers are continuing to receive pleas from officials representing the payday loan industry urging them to consider extending provisions that allow lenders to sidestep interest rate caps and serve the customers who need them.

In an editorial published in Tuesday’s edition of The Arizona Republic, Gerri Guzman – the executive director of the Consumer Rights Coalition – threw her support behind the push to keep payday loans unregulated.

Referencing a previous initiative to extend a timeframe for the short-term loans to avoid interest rate caps that was voted down in 2008, Guzman said that much of the public has not learned enough about payday loans to cast judgement on them.

“What about all of the consumers who weighed their options – bouncing a check, overdrawing their bank account, not paying their bills on time – and concluded that a payday loan was their best, least-expensive option?” asked Guzman. “I represent an organization of more than 115,000 of these consumers – 4,000 in Arizona alone.”

According to the Associated Press, Arizona’s Senate Appropriations Committee is not turning a blind eye to attempts at keeping the loans alive in the state. On Tuesday they will hear a proposed bill that would allow payday lenders to continue operating in exemption of the state’s 36 percent cap on annual interest rates.

A recent change in lending laws in Ohio means it may be harder for certain consumers to find the short-term loan options that were available to them in the past. New legislation is making it difficult for many brick and mortar and online payday lenders to operate in Ohio, leaving their customers with few places to turn.

Fortunately, CashNetUSA has developed a new loan product aimed at offering these customers the short-term funding they need, even with payday loans being out of the picture. Our Mortgage Loan Act (MLA) loan is a fully licensed, convenient and quick answer to immediate money needs and carries a lower finance charge on average1 than former payday loans. Customers can apply for a loan amount of $100, $500 or $1,000 and often get the money by the next business day.

Ohio customers can still benefit from CashNetUSA’s fast online application, quick funding and hassle-free direct deposit of funds. Learn more about how you can take advantage of CashNetUSA’s fast online loans at www.cashnetusa.com.

1. Based on average loan size of $500 funded principal for 14 days (www.cashnetusa.com/ohio_mla) for a comparison.

The recent downturn in the stock market and US economy has made big headlines in the media with the infamous toll it’s been taking on investors and Wall Street. But the fallout of this economic downturn can affect more than the big players in the market – the resulting credit crunch is starting to affect everyday blue-collar Americans as well.

As banks are reorganizing and looking at how and who they lend to, this could affect middle-class Americans’ ability to get mortgages or other loans. Fortunately, there are other private options to getting short-term loans to help meet your financial needs.

Online cash advances can be a way to get a small amount of money for short-term use. These cash advances are not only a simple way to get the money you need, but are incredibly convenient. You can apply online with a five-minute cash advance application, get quick approval and receive your cash advance as quickly as the next business day.

Plus, the short-term lending market hasn’t been affected as much as the stock market or traditional lending industry. Even customers with less-than-perfect credit may qualify for up to $750 in just minutes to face important short-term money needs.

Read more about cash advance services and find out how you can get the money you need, when you need it most.

Catch the debut of our new television commercials on major national networks and find out how to get convenient, next-day money with CashNetUSA!

Last month, CashNetUSA launched its first ever television commercials, aimed at sharing the benefits of our convenient online payday loan services to a wider audience. These two commercial spots are running throughout the fall on major national networks such as Lifetime, USA and the CW.

Two payday loan advertisements are currently being run in both 30- and 60-second spots. The first is a live action spot featuring an actress playing a CashNetUSA cash advance customer. She shares a story of how she was hit with several immediate expenses at the same time and how an online payday loan was able to help her meet her money needs.

The second spot is purely graphical. It begins with voiceovers from several payday loan customers sharing their concerns or financial troubles. The resolution comes with the introduction of CashNetUSA’s online payday loans, followed by several customers sharing their testimonials of how CashNetUSA was able to help them overcome their short-term troubles.

These spots can be seen throughout the fall on major networks across the U.S. For more information on our fast online payday loans or to learn more about CashNetUSA, click here.