Payday News, week of May 20, 2016

May 18, 2016 The Wall Street Journal CFPB to Propose Payday-Loan Rule on June 2 The Consumer Financial Protection Bureau set June 2 as the day it will propose a long-awaited rule to curb payday lending, moving a step closer to implementing the first federal regulation for an industry now overseen by states. More Coverage: The Kansas City Star | …

Advocates Respond: CFPB announces possible payday loan rule release date

AFR statement: On June 2, the Consumer Financial Protection Bureau (CFPB) will hold a hearing in Kansas City, where it is expected to release its proposed regulations for payday and other small-dollar consumer lenders on June 2. Meanwhile, the agency has put out a study of the car-title loan market, adding new weight and urgency to the case for these …

Payday News, week of May 14, 2016

Payday News, May 15 – 22 To see most of this listing in blog form here. This week’s highlight: Google announced last Wednesday that it’s putting an end to search ads for payday loans. The story grabbed a lot of media attention: Twitter: .@google is banning search ads for payday loans. Here’s why civil rights groups are happy about it: …

AFR, others laud Google decision to ban payday loan search ads

To its considerable credit, Google has decided to stop running search ads for debt trap payday loans. What does that mean? Google will not accept search ads that send people either directly or indirectly to payday lenders. As a result of this change, when people type in searches like “I need money for food” or “I need money for rent,” …

Payday News, week of April 29, 2016

Payday News, April 22 – 29 April 26, 2016 Florida Politics Advocacy Group Asks Public What Florida Lawmaker They Should Target Next Over Payday Loans After nearly two months of hammering Democratic National Committee Chairwoman Debbie Wasserman Schultz for “sabotaging” President Barack Obama’s efforts to hold payday lenders accountable, Allied Progress now says they’re moving on to target another Florida …