Payday Loan Reform News – July 30

    Online Lending Needs More Regulation: New York Regulator July 30, Bloomberg Online lenders should face stricter rules and oversight, according to a recent report from the New York Department of Financial Services (NYDFS). Despite a suspect nominee, CFPB can still protect consumers July 26, The Hill The Senate Banking Committee conducted a confirmation hearing for Consumer Financial Protection …

Payday Loan Reform News – July 23

Highlight Trump’s Pick for CFPB Dodges Senators’ Policy, Budget Questions July 19, Bloomberg President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau dodged most questions about her policy priorities and plans for cutting the bureau’s budget at a contentious July 19 confirmation hearing. Other News The Structural Biases Behind Financial Lending Won’t Stop Until We Start Speaking Out …

Payday Loan Reform News – July 9

Highlight Trump Administration War on CFPB Is Bad News for Communities of Color July 7, Common Dreams Two years into the Trump administration, communities of color — and anyone using financial products, for that matter – are losing hope of finding an independent, dogged champion in Trump’s iteration of the Consumer Financial Protection Bureau. A brain-child of Senator Elizabeth Warren, …

Payday Loan Reform News – July 2

Highlight   AG Joins Effort To Fight Legislation Terminating States’ Ability To Prevent Abusive Lending Practices June 28, Los Alamos Daily Post The coalition of 20 AG’s sent a letter to leadership in the U.S. Senate expressing their opposition to the proposed legislation, which would invalidate the States’ ability to limit interest rates on payday and other high interest loans, …

Payday Loan Reform News – June 26

  Highlight   Slate Belt rep puts the brakes on exploitative payday lending plan June 25, Patriot News The House Commerce Committee quietly put the brakes on a truly awful bill that would have opened the door to high-interest, storefront payday lending in Pennsylvania.   More News   Class turns to crass June 25, Bucks County Courier Times With consumer …

Payday Loan Reform News – June 18

  Highlight   Federal judge rejects CFPB’s effort to halt payday rule June 13, American Banker A federal court dealt a blow to efforts by the Consumer Financial Protection Bureau to slow down the agency’s payday lending rule. U.S. District Judge Lee Yeakel on Tuesday denied the request by acting CFPB Director Mick Mulvaney that the court delay the payday …

Trump’s CFPB Director Nominee is Ploy to Keep Mulvaney at Helm

For Immediate Release June 18, 2018 CFPB Director Nominee is Ploy to Keep Mulvaney at Helm WASHINGTON, D.C. – After nearly seven months of “Acting Director” Mick Mulvaney’s reign that has rolled back commonsense safeguards that held banks, payday lenders, and other bad actors on Wall Street accountable to families and taxpayers, the Trump Administration announced its plans Saturday to nominate Kathy …

Court to CFPB: Payday Lending Rule Compliance Date Stays Intact

For Immediate Release June 12, 2018 Contacts: Center for Responsible Lending: ricardo.quinto@responsiblelending.org (202) 349-1866 Public Citizen: abradbery@citizen.org, (202) 503-6768 National Consumer Law Center: jkruse@nclc.org (617) 542-8010 Americans for Financial Reform: carter@ourfinancialsecurity.org (202) 869-0397 Court to CFPB: Payday Lending Rule Compliance Date Stays Intact WASHINGTON, D.C. – The U.S. District Court for the Western District of Texas today ruled against the …