Payday News Stories, Week of October 9, 2015

October 2, 2015 Huffington Post How to Protect the Working Poor From 300 Percent Interest Rates October 2, 2015 Reuters Online U.S. payday lending probe targets Philadelphia-area businessman: records October 2, 2015 Washington Examiner Online Obama’s Postal Service nominees opposed by labor, civil rights groups October 2, 2015 Telegraph Online Political Notebook: New program focuses on helping military October 2, …

Payday News Stories, Week of October 2, 2015

September 30, 2015 Allied Progress Report: Cheaper By The Dozen September 25, 2015 Bloomberg News Online FDIC, Fed Must Face Payday Lenders’ ‘Choke Point’ Lawsuit September 25, 2015 JD Supra CFPB Highlights Mortgage Complaints in Third Monthly Complaint Report September 26, 2015 Waco Tribune-Herald Online Nonprofit homebuilders in Waco struggle to rebuild momentum after recession September 27, 2015 Augusta Free …

Congressional Leader: Rep. Linda Sánchez Discusses Impact of Payday Loans with #StopTheDebtTrap Members

At a September 22 roundtable in Los Angeles, CA, Representative Linda Sánchez (CA-38) joined community leaders to discuss the impact of predatory payday lending.  Local consumers shared their experiences being caught in the “debt trap” created by payday loans. Rep. Sánchez endorsed a push by the Consumer Financial Protection Bureau to put in place rules to curb the worst payday lending abuses. In California, …

Payday News Stories, Week of September 25, 2015

September 16, 2015 Argus Leader Online Payday loan critic: Group collecting invalid signatures September 17, 2015 Investors.com Investor’s Business Daily Online September 17, 2015 CU Today Payday Loans Bad Enough, But FTC Shutters ‘Phantom’ Payday Collections September 18, 2015 Federal Trade Commission FTC Returns Money to Online Payday Loan Applicants; Scammers Debited Their Bank Accounts Without Their Consent September 18, …

Payday News Stories, Week of September 18, 2015

September 9, 2015 Office of the Attorney General, DC.gov AG Sues to Stop Debt-Purchasing Company from Collecting on Ultra-High-Interest Loans to District Consumers September 11, 2015 Washington Post VA AG Mark Herring vows to crack down more on car title loan companies September 12, 2015 The Daily Times Online Attorneys will offer free advice at San Juan County Legal Fair …

Forward through Ferguson on Predatory Lending

The recently released Ferguson Report emphasizes the negative impacts of predatory lending on neighborhoods like Ferguson, Missouri: While low wages make it difficult to escape poverty, predatory lending often makes poverty worse. Low-income households in Missouri with limited access to credit frequently seek high-cost “payday” loans to handle increased or unexpected emergency expenditures. These lenders, who are often the only …

Jewish Leaders Urge CFPB to Act on Predatory Payday Loans

By Rachel Anderson As the Jewish High Holy Days begin with Rosh Hashanah, members representing 15 different organizations working in the Jewish Community met with Consumer Financial Protection Bureau Director Richard Cordray to deliver a letter and ask the Bureau to put out strong rules that stop the debt trap created by abusive payday loans. Faith leaders are particularly troubled …

Payday News Stories, Week of August 7, 2015

August 2, 2015 The NWI Times Payday lenders prey on low-income families August 5, 2015 KDLT News AARP South Dakota Supports Efforts To Cap Payday Lending Interest Rates July 31, 2015 Consumer Financial Protection Bureau Offshore payday lender sued by CFPB August 3, 2015 The Statesman Changes at EZCorp to result in loss of almost 100 Austin jobs August 4, …

#StopTheDebtTrap Campaign Update August 5, 2015

ON JULY 21st, The Obama Administration and the Department of Defense finalized new Military Lending Act rules to #StopTheDebtTrap for service members.  Men and women in uniform are too often the targets of abusive lending practices. New protections will prevent payday, auto title and other high cost abusive lenders from digging our service members into a debt trap that can …

Payday News Stories, Week of July 31, 2015

July 25, 2015 Montgomery Advertiser (AL) Montgomery NAACP shows dangers of predatory lending July 27, 2015 Reuters Racecar driver, U.S. agency in settlement talks over payday lending July 27, 2015 North County Public Radio (St. Lawrence University, Canton, NY) Service members granted new protections from predatory lenders July 27, 2015 Times Free Press (Chattanooga) Chattanooga council scrutinizes new lending business …