We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Payday Lending - Assignment Example

Comments (0)
A number of reasons necessitate payday lending. People having financial problems at the beginning of the month, or those with projects and anticipate the need for money…
Download full paper
Payday Lending
Read TextPreview

Extract of sample
Payday Lending

Download file to see previous pages... h interests charged on these funds going as high as over 100%, coupled with the disadvantages of this practice, there is every reason to criminalize payday lending.
Although high interest rate is one of the reasons for rendering payday lending illegal, the practice negatively affects economic growth and development. Most of the economies rely on the private sector and private investors. While the government and the financial industry provide individual investors with credit to start up small and medium scale enterprises, individual investors rely on their savings to raise income for investments. By promoting the culture of saving among the people, it positively contributes to the growth and development of individual investments, subsequently increasing the growth of the private sector. This contributes to the economic growth and development by providing employment opportunities, creating innovation, and creativity among the people. However, payday lending hinders this development. The fact that most of the people rely on this as a source of income to run their lives during the month is discourages saving among the people. Moreover, this practice promotes a culture of consumerism, which leads to poverty in the subsequent years of employment. With people having liquid money with them, this increases the rate of inflation as they spend on most of their money on consumer goods. Lending at over 100% is also unreasonable and unethical, and as such, ought to be illegal.
By choosing to criminalize the practice, a number of people are likely to suffer from such a development. Whenever people face emergencies, and others have financial constraints, they cannot access financial support and assistance through payday lending. Thus, people have to find other sources of satisfying this need. Making the practice illegal can further lead to loss of jobs for the moneylenders, thus increasing the rate of jobless people in the ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Credit & Lending Decisions
Wesfarmers originally started as a farmers cooperative in Western Australia but now became the largest private Australian employer with about 200,000-plus employees. Its headquarters is in
2 Pages(500 words)Assignment
Association of Phoenix Employees
With the continuous work in PTC, attendance and absences recording and tracking pose a problem to the management. Paying the salaries of employees entail time for both the Disbursing Section and the employees. The long queue just to receive one’s salary produces annoyance since at times, the employees themselves become disorderly.
8 Pages(2000 words)Assignment
The organization’s partnership that vets loan applicants also facilitates the organization’s success by reducing its losses through defaulters. Similarly, the organization’s approach to offer even small loans helps it to meet its objective of lending
1 Pages(250 words)Assignment
Pay day loan companies should be subject to more regulation
Despite this fact, it is evident that lots of people still prefer these short term loans. The payday loan lenders work on the basis that the money should be paid within a month. The pay day lenders would then be descried as
8 Pages(2000 words)Assignment
Additionally, Eisner refers Ovitz as someone who is not trustworthy. Ironically, when he appeared in Los King Live, Eisner denies there were no problems
1 Pages(250 words)Assignment
Writing assingment
In Shame, Dick stands out as a poor boy that lacks a father. Moreover, he lives in the slums. However, there exists a girl; Helene Tucker, that Dick is attracted to (Lunsford, 2013). Unlike, Dick, Tucker is well off. Reason being, she was from a well to
4 Pages(1000 words)Assignment
Writing critical analysis essay for the effect of bank mergers and acquisitions on small business lending
The connection between the size of banks and the tendency to lend small businesses money has been the subject of research but has not been considered at length. Simplistic analysis makes the
3 Pages(750 words)Assignment
The Effects of M&A on SMEs Lending ( methodology and procedure )
Employees from these organizations will give relevant information about the issue under investigation. Further, the demographic variables in the study include employees of the age 31to 51 years all working in business sector. In addition, demographic variables are very
2 Pages(500 words)Assignment
EVA stands as a benchmark for gauging performance and being able to discern what exact direction the entity may be taking. The essence of EVA is to still have profit margins after satisfying the company’s capital costs. In doing so, it focuses on the
2 Pages(500 words)Assignment
Do Athlethes and Actors Get Paid to Much
usually generate heated debates to those against them getting huge pay packages, and those of the idea that they are justified and duly meet their handsome pay packages. Those who assert that athletes and actors are grossly overpaid bring various opinions forward. To start
6 Pages(1500 words)Assignment
Let us find you another Assignment on topic Payday Lending for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us