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JPM: Cash America International Fully Valued Following Spin-Off

Cash America International Inc (NYSE: CSH) is fully valued after its recent spin-off of sub-prime lender Enova International, Inc. (NYSE: ENVA), an analyst said Monday.

JMP’s David Scharf downgraded Cash America to Market Perform, from Outperform, saying likely earnings growth at Cash America doesn’t support its current share price.

Cash America, which retains a 20 percent stake in Chicago-based Enova after the November 13 spin-off, traded recently at $24.66, down 2.1 percent.

Enova is off 17 percent since trading began. On Monday, Enova fell 1.5 percent, changing hands recently at $23.00.

Scharf said factoring in Cash America’s 20 percent stake in Enova “remains a wild card,” adding that his earlier Outperform rating had included improving results from both the pawn shop business as well as the Enova unit, which operates exclusively online.

Scharf noted that Street estimates of Cash America’s future earnings are near or above the range offered recently by the company.

That “allows little room for error” for a stock with a relatively high ratio of price to earnings, Scharf said.

Cash America has noted that consumer advocacy groups as well as federal and state legislators have recently suggested tightening rules “so as to severely limit, if not eliminate” so-called payday and other high-interest loan products offered by pawnbrokers and online lenders.

Latest Ratings for CSH

DateFirmActionFromTo Nov 2014JMP SecuritiesDowngradesMarket OutperformMarket Perform Jul 2014NomuraMaintainsNeutral Jul 2014Sterne AgeeUpgradesNeutralBuy

View More Analyst Ratings for CSH
View the Latest Analyst Ratings

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FCA facing calls for stricter payday loans cap | News | Money …

Image accord-mortgages-l.jpg

FCA facing calls for stricter payday loans cap


The FCA is under pressure to go further in its proposed clampdown on the payday loans sector after the number of people with short-term debt surged 42 per cent during the first six months of 2014.

New figures released by debt charity StepChange reveal the number of people with payday loan debts rose from 30,762 in the first half of 2013 to 43,716 in the same period this year.

FCA concerns trigger past business review at payday lender

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19 August 2014

FCA predicts £420m loss for payday lenders as it sets out fee cap

15 July 2014

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7 March 2014

Furthermore, the total payday loan debt handled by the charity increased from £51m to £72m year-on-year.

In a bid to curtail the payday loans sector, the FCA has proposed capping the amount lenders can charge at 100 per cent of the value of the loan. The new rules are due to come into force in January 2015.

In its response to the FCA consultation, published alongside today’s findings, StepChange urges the regulator to consider implementing a stricter cap.

It says: “There is a case for a tougher total cost cap than 100 per cent of the value of the loan, especially in relation to higher value loans.

“The Competition and Markets Authority found that the average initial payday loan taken out is £260, while the average StepChange Debt Charity client with payday loan debt has an income (net) of £1,305.

“This means that someone with just one payday loan debt which reaches the 100 per cent cap would end up owing a substantial part of their income and could easily lead to further borrowing and deeper financial difficulty.”

StepChange chief executive Mike O’Connor says: “High-cost short-term credit is rarely the answer to financial difficulties. While, the FCA’s proposed price cap is a crucial step forward, there is still much work to be done to ensure that payday loans can no longer plunge people into a cycle of unsustainable borrowing and entrenched financial hardship.

“Consumers will continue to need access to short-term credit and FCA action should also stimulate the reform of this market. This needs to include problems in the adjacent markets including overdrafts, logbook loans and home credit where consumers also suffer detriment.”


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Sarah Silverman Joins John Oliver in Tearing Apart Payday Loans …

In case you’ve missed it, John Oliver continues setting aside at least half of each episode of Last Week Tonight as a time to educate viewers about important topics they won’t hear much about elsewhere. HBO continues being cool by putting these 15-plus–minute segments on YouTube for everyone who might not have HBO.

For his latest lesson, Oliver spends 14 minutes explaining payday loans and then shutting the concept down completely, based on everything from the loan companies’ terrible names and celebrity spokespersons to the way that they ruin customers’ lives with their bad practices. He then turns it over to his own celebrity spokesperson, Sarah Silverman. Watch the entire thing below.


Hull to compete with Bolton for Liverpool’s Spearing

Liverpool boss Brendan Rodgers intends to cash in on Jay Spearing.

The People says Rodgers will sell Spearing, back from a loan season at Bolton Wanderers, for around 3m.

Hull City are keen on Spearing and Bolton would like him back but only on loan.

For all the latest football news go to



Keep mitts off law reforming payday loans | Economic Opportunity …

Keep mitts off law reforming payday loans

Posted on February 28, 2013 by John Burbank

Commentary | February 28th, 2013 | By John Burbank | Everett Herald

In our state, payday loans once created a billion dollar stream of funding, from people in difficult straits, to payday loan kings like MoneyTree. That was before 2010, when our legislature completely reformed the payday loan law. But now some lawmakers are looking to roll back those consumer protections.

Read more >

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World News 2013 – Hook, Loan & Sinking: Quick cash enslaves Britons

Image hqdefault.jpg World News 2013 Subscribe for Latest World News Headline Updates Tough times are pushing people in the UK to make hard decisions. More and more families are taking so called payday loans with huge interest rates. RT’s Sara Firth looks at what pushing people to turn to these companies. […]

Video: Kerry Katona fronts payday loan ad | The Sun |Showbiz|TV

KERRY Katona may not be the best celebrity to offer cash advice ? nevertheless her latest venture is fronting a payday loan company’s ad.

The reality TV star, 32 ? who was declared bankrupt in the past and last year faced a £70,000 tax bill ? appears in the 30-second commercial to plug the £300 cash injections.

She says: “We all have money troubles at some point – I know I have.

“You could see your bank and fill in loads of forms. But is there an easier way to get a loan?

“Check out With Cash Lady it’s simple to apply for up to £300.

“It’s dead fast, too. If you’re approved the money goes straight into your account.”

Customers pay an APR of 2,670 per cent. And even if they borrow £180 for just 28 days, they still end up paying an interest rate of 378 per cent.

Click here to download the latest flash player. Video:

Cash tips from Kerry Katona: TV girl in payday loan advert


REALITY star, who has had her own trouble with money, appears in commercial for payday loan company

But mum of four Kerry insisted the firm was entirely transparent about its charges, saying: “The reason I was happy to work with Cash Lady is that they’re committed to being a responsible part of the payday loan industry.

“They’re constantly doing their best to make sure that customers get as much information as possible and were one of the first companies to put up clear responsible lending information, including where customers can get free financial advice at times when they’re struggling.

“I’ve been through money troubles enough myself, so I know how difficult it can be when you need cash at the wrong time.”


Everton bos Moyes admits he'll have to work loan market

Everton boss David Moyes admits he’ll have to work the loan market this month.

Moyes says he only has the cash to fund a couple of loan signings and accepts that money remains tight at Goodison.

“I think the chief executive has said there is only a small amount available, so there’s a small amount available for maybe a couple of loans,” said the Everton boss.

“If you don’t have it, you don’t have it and I accept that. There’s nothing else anyone can do and I have got great respect for the people who run Everton.”

For all the latest football news go to



Loan sharks have upped the ante

GOING by the number of illegal banners and stickers, the authorities must have been fighting a losing battle against Ah Long (loan sharks).

The main message of their advertisements is always fast loans and low interests that appear to target low-income earners and self-employed traders.

However, property owners in need of cash are now enticed by their latest banners proclaiming PROPERTY WANTED and promise

of cash payment within seven


Certainly an ingenious way

of baiting clients as a loan can be slipped in while negotiating the purchase price of a property.

Looks like the Ah Long are always a step ahead.


Kuala Lumpur


Offshore Payday Loan Scam Warning

Image hqdefault.jpg Offshore payday loan scams happen from time to time. We made this video to bring you the latest case that was reported by a woman living in Iowa. […]