Banks are Limiting Options for the Sub-Prime Markets; Fastwire Cash Offers Lending Alternative

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Fastwire Cash, premier payday loan lender, steps in to assist consumers who are being rejected by banks with short-term emergency loans.

Payday loan lenders are regulated, legitimate companies that help consumers get short-term, emergency financial assistance

Over the last several months, the media has been buzzing with the consumer credit reforms generated by the Credit Card Accountability Responsibility and Disclosure Act of 2009. However, rather than solve economic issues, it's created a banking backlash that has shaken all consumers. Fastwire Cash, premier payday loan lender, has seen an influx of new customers seeking emergency financial solutions.

The worst hit by these reforms are consumers in the sub-prime market. These are the consumers that are living paycheck to paycheck, who are struggling to pay their bills on time and are seeing little help from the banks. In January, Chase increased their minimum payment from 2% of your balance to 5% on several of their accounts. In May, Capital One increase their cash advance APR from 22.9% to 24.9%. In August, AMEX sent some of its card holders a notice that the company planned to increase the annual percentage rate on cash advances, the penalty APR on cardholders who pay late and its late payment fee. In the same month, Citi informed some of their cardholders that they would be charged an annual fee of $30 to $90 unless they spend at least $2,400 per year.

Recently, banks announced that they are going to cut some overdraft fees, which should be good news for sub-prime consumers; however, they need to read between the lines. Yes, banks are reducing their outrageous overdraft fees, but in the near future Bank of America and other banks are going to start limiting the number of times someone can overdraft on their account. If you've paid the overdraft fees in the past cover life's little emergencies, that option may soon be closed to you.

Payday loans may be one of the few options left for financially stressed consumers. While many critics might complain that payday lending has grown out of the aggressive marketing, the reality is that banks are pushing away these consumers and payday loan lenders are stepping in to fill the gap that has been left. "Payday loan lenders are regulated, legitimate companies that help consumers get short-term, emergency financial assistance," states Barbara Dolan, President of Access Financial, LLC, "Our customers are honest, hard working adults who hit a financial problem and didn't have a safety net."

The typical fee charged for a payday loan is usually less than a consumer would have to pay for bounced check fees and or late credit card payment fees. Depending on state regulations, a payday loan lender can sometimes extend the repayment period. For some consumers, payday loans are becoming the economical solution.

Fastwire Cash / Access Financial, LLC
Fastwire Cash ( is a state-licensed payday loan lender that complies with the CFSA Best Practices of providing full disclosure to customers, complying with all state and federal laws, advertising truthfully, and encouraging and promoting consumer responsibility. As members of the Financial Service Centers of America (FISCA), Fastwire Cash is committed to responsible industry practices and customer satisfaction.

For interviews with Barbara Dolan or inquires about Fastwire Cash / Access Financial, LLC please contact 954-302-5102 or email bdolan at


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Barbara Dolan
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