banks

Central Standard
12:00 pm
Tue September 20, 2011

The Effects of Restricting Payday Lending

Andrea Silenzi

Payday loan shops provide small, short-term loans. A typical loan ranges in size from $100 to $500, and must be repaid within two weeks. The industry contends that such loans help people pay for unforeseen expenses.

But many people believe that such loans are harmful because of the amount of interest charged. In the state of Missouri, the average APR on payday loans is above 400%.

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KCUR News
9:31 am
Wed April 7, 2010

Barney Frank Praises Local Banks, Says Major Reform Likely By Memorial Day

Barney Frank discussing financial industry reform with local bankers.

Kansas City – House Financial Services Committee Chairman Barney Frank was in Kansas City at the behest of his colleague on the committee, Congressman Emanuel Cleaver, to recognize UMB Bank and Commerce as the second and third most healthy banks in the country. This is according to ratings published by Forbes Magazine. Frank said institutions like UMB and Commerce have nothing to fear from bank reforms.

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