PaydayLoansOnline.net Announces Publication of Responsible Lending Policy

ORLANDO, Florida, April 17, 2013 /PRNewswire/ --

PaydayLoansOnline.net has announced that it has built a responsible lending policy into its operations. The policy has been written in order to raise consumer awareness regarding laws that protect them and highlight the state and federal obligations that bind all lenders, including the Truth in Lending and Dodd-Frank Wall Street Reform Acts.

PaydayLoansOnline made the announcement in the following statement that was released to the press:

"We are pleased to announce the addition of a new responsible lending policy to our website. We want consumers to know that all of the lenders in our application and comparison network are fully accountable to all applicable state and federal laws. We have taken the key laws and broken them down in an easy-to-understand format so that consumers can know exactly how the law protects them. We also want potential borrowers to know the parameters that all featured lenders much operate within and to take the necessary steps to safeguard their rights."

PaydayLoansOnline is a unique loan comparison site that also provides free access to U.S. based consumers for educational resources on finance, improving credit and alternatives to payday loans. The newly published responsible lending policy is a companion to the responsible lending policy that the site is currently formulating.

PaydayLoansOnline believes that there is a bilateral relationship of trust between lender and borrower and that each side needs to be mindful of their obligations to the other party. For the lender, this means giving the borrower clear, fair and understandable loan terms plus details of all charges and abiding by state and federal laws. For the borrower, the obligations include borrowing only what can be affordably paid back and to look towards alternatives to payday loans if these represent a more shrewd choice for the individual.

PaydayLoansOnline is a McAfee Secure™ certified site. It features the trustmark of the world's largest internet security firm. This badge represents the robust daily tests that the site passes to deem it free of all malware, spyware, viruses and other malicious threats.

To read the responsible lending policy or to apply for a short term loan with no obligation to accept, visit: http://www.paydayloansonline.net/responsible-lending-policy/ 

Sam Milo
Tel: +1-678-666-0100
[email protected]

SOURCE PaydayLoansOnline.net

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