Payday Loans Reform News – October 30

  Highlights The Little Guys Win One on Payday Loans October 23, New York Times Since the federal Consumer Financial Protection Bureau opened its doors in 2011, the agency’s investigations and enforcement actions have returned more than $12 billion to auto buyers, homeowners, credit-card holders and other borrowers who were victimized by deceptive or predatory practices. Consumers who have been …

Payday News, week of March 4, 2016

March 1, 2016 Huffington Post DNC Chair Joins GOP Attack On Elizabeth Warren’s Agency Wasserman Schultz is co-sponsoring a new bill that would gut the CFPB’s forthcoming payday loan regulations. For more coverage: Palm Beach Post | Cerabino: Lawmakers should try fund-raising by payday loan terms The Detroit News | O’Connor: Payday loan act is a payday for somebody Huffington …

Purdue students standing over the Pit of Despair

The Pit of Despair Opens Up in Indianapolis

At Purdue University’s Indianapolis campus, the Sociology Club of IUPUI and the U.S. Public Interest Research Group asked students what they thought of the hundreds of payday lenders that checker their state, ensnaring their neighbors with an average annual interest rate of 391%, according to a report from National People’s Action. At those rates, payday, car-title, and high-cost installment loans …