Payday loans fuel Cash America gains

(Star-Telegram) - Revenue growth for payday loans, including those extended over the Internet, helped Fort Worth-based Cash America International rack up a 19 percent increase in net income for the second quarter.


"All aspects of our business experienced increases in revenue, led by our expanded balances of cash-advance loans, which posted the largest portion of the year-over-year gains in revenue," President Dan Feehan said.


But he stressed that Cash America's pawnshop loans and merchandise sales represented about two-thirds of revenue. Pawn revenue was up 18 percent, he said. More...