Campaign to Stop the Debt Trap Announces Collection of Over 100,000 Public Comments in Support of Reining in Predatory Payday Lending Industry

Hundreds of Thousands of Americans Have Spoken Up Since Public Comment Period Opened on June 2 See the press release here. Washington, D.C. – The Stop the Debt Trap campaign announced that so far, its public awareness and comment gathering effort had collected over 100,000 public comments since June 2 in its fight to end predatory lending in America. The …

New Report Exposes “Pinklining” – Aggressive Wall Street Lending That Disproportionately Harms Women of Color

Community groups call for an investigation by the Consumer Financial Protection Bureau This week, three statewide community groups – ACCE (Alliance of Californians for Community Empowerment), NJCU (New Jersey Communities United) and ISAIAH in Minnesota – released a report that shows women, and particularly women of color, are being disproportionately harmed by aggressive and often predatory lending, a practice the …

The American People Really Really Really Don’t Like Payday Lending

By Huge Margins, Voters Support More Regulation to Stop the Payday Debt Trap A used car salesman, a Wall Street banker and a payday lender walk into a bar. If the bartender is anything like most Americans, that payday lender might have a tough time getting a drink. No One Likes Payday Lenders Payday Lending Poll Memo June 2016 Payday …

The Battle of Kansas City has been won!

WE TOLD OUR STORY IN KANSAS CITY! Last week, at a Kansas City field hearing, the CFPB released their proposed rule on payday, car title and installment lending.   Years of hard work paid off as the damage of payday lending, the long fought local efforts to stop abusive lending practices, and the need for a strong rule that will …

Payday Reform News: June 1-7

Kansas City infoZine June 2, 2016 CFPB Proposes Rule to End Payday Debt Traps The Consumer Financial Protection Bureau (CFPB) proposed a rule aimed at ending payday debt traps by requiring lenders to take steps to make sure consumers have the ability to repay their loans. FOX4KC June 2, 2016 New rule proposal aims to end to payday loan debt …

Consumers Around the Country Respond to CFPB Payday Loan Release

Groups around the country are responding to the Consumer Financial Protection Bureau’s proposed rule. Here is what many of them have to say: Stop The Debt Trap: The CFPB’s Payday Lending Proposed Rule:   What Works, What Doesn’t Joint Statment: AFR, 9 Organizations Call the Payday Rule a Good Beginning National Groups: Allied Progress: CFPB’S New Payday Rule A “Good Start” …

Payday Reform News: Week of May 31

May 27, 2016 Kansas City Star Hopes soar on effort against payday loans Other Top Stories: May 31, 2016 Columbia Missourian CARL KENNEY: It’s time to stop financial predators from gouging the vulnerable Payday lenders are gangsters protected by our state government. They wreak havoc on families who make the decision to pay high interest rates because they have few …