Congress Attacks Consumer Bureau With Wrong CHOICE Act, But Consumers Fight Back

Communities across the country have been fighting for years against the impact of payday lending, urging their state officials to stop the debt trap in its tracks. On the federal front, the Consumer Financial Protection Bureau (CFPB) has clamped down on payday lenders who have broken state laws, resulting in relief for thousands of Americans who were stuck in a …

Payday News January 23

Highlight January 18, Billings Gazette: Guest Opinion: Don’t Muzzle U.S. Consumer Watchdog Katie Sutton of the Montana Organizing Project defends the CFPB noting the strong support from Montana for the payday lending rule last fall. Top Stories January 23, Salt Lake Tribune: Only 3% of Utah campaign money came from constituents, 92% from special interests An article about campaign contributions in Utah …

Payday News December 31-January 6

Highlight January 4, St. Louis American: What will you lose if you lose consumer financial protection? CRL’s Charlene Crowell discusses the threats to the Consumer Financial Protection Bureau and the benefits it has brought to consumers during its existence. More Coverage:  Morning Consult: Time to Stand Up for Federal Agency That Delivers on Its Promises Common Dreams: Consumer Bureau Under Attack Partner Releases …

Payday News December 17-22

Highlight December 21, Real Estate Rama:  Don’t Let Payday Loans Turn Your Holiday Dreams Into A Nightmare This consumer warning piece quotes the president of Woodstock Institute, uses the material about what holiday toys would cost if bought with payday loans and promotes a strong payday rule from the CFPB. More Coverage: Taos News: Be mindful of the Darker Side of Holidays …

Payday Reform News: September 24-30

Highlight September 28, New Brunswick Today: Federal Agency Wants Comments From Public on Payday Loan Rules The article states that the CFPB is accepting comments for payday lending reform, and provides details about the proposal. Partner Blogs & Press Releases Allied Progress: CFPB Must Closely Scrutinize Comments Opposing Proposed Payday Lending Rule Stop the Debt Trap: Stop the Debt Trap: …

More Than 100 House Members Send Letter Urging Strong CFPB Payday Rule

Members Applaud Bureau for First Step in Regulating Small-Dollar Lending Industry Washington, D.C.- Today, 104 House Members, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to the Consumer Financial Protection Bureau (CFPB) urging it to adopt a strong final payday lending rule and close loopholes that harm consumers. Congress gave the …

Payday Reform News: September 10-16

Highlights September 13, My News LA: Californians paying over $700 million in payday loan fees On September 12th, California’s Board of Supervisors unanimously voted to support reform for predatory lending practices, stating that borrowers in California are paying over $700 million on their loans each year, including fees. More Coverage: Los Angeles Wave: Payday Lenders May Face New Regulations Top …

Cities Demand the CFPB Strengthen the Payday Lending Rule

Cities around the country are passing resolutions telling the CFPB to strengthen its rule to rein in abuses by the payday lending industry. In Pennsylvania and New Jersey, municipalities are calling on their state capitals to stand strong against industry lobbyists, and want a stronger CFPB rule that protects their already strong state caps. Philadelphia, Pennsylvania Essex County, New Jersey …