Payday Loan Reform News – November 17

Highlights Democrats May Deny It, But This Bill Is A Handout To Payday Lenders November 16, Huffington Post Rep. Gwen Moore (D-Wis.) has a payday lending problem. On Tuesday, HuffPost published an article highlighting an obscure piece of legislation moving through Congress that would help payday lenders and other shady operators skirt predatory lending laws passed by state governments. It’s …

Payday Loan Reform News – November 10

Highlights Payday loans are predatory November 10, The Billings Gazette As a former U.S. Air Force air traffic controller for six years, I saw payday lenders prey on men and women in uniform. Financial distress is the top reason military personnel take their own lives. The Military Lending Act gave relief to active duty service members. Payday loans are prohibited …

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 Loan Reform News – October 11

Highlights Regulations Targeting Payday Lenders are Necessary: Regulations Can Do an Awful Lot of Good October 11, Tulsa World Federal regulators rolled out a long-awaited set of new rules for payday lenders last week, including a measure designed to prevent predatory companies from trapping poor people in debt they have no hope of ever repaying. Proposed Federal Rules Would Put …

Payday Loan Reform News – October 2

Highlight: Guest opinion: Montana's payday lending law at risk in Congress September 29, Billings Gazette Payday loans continue to ensnare their communities in cycles of debt with false promises of fast cash. The Consumer Financial Protection Bureau has been reining in these loans when they break the law and is planning to release further protections for borrowers of these loans, …

Payday Reform in the News March 17

Highlight They’re Back! Loan Sharks Circling Again March 15, Arkansas Online Strong editorial backing lawmakers in their work to keep CashMax from getting borrowers caught up in “involuntary servitude.”   Top Stories   Huge majority of Ohioans want payday lending reform – now legislature must act: Brent Larkin March 16, Cleveland.com A new poll commissioned by The Pew Charitable Trusts …

Payday Reform News February 17

Highlight Local advocates continue to push back against state level efforts to allow predatory lending, while linking their state legislative work to the need to defend consumers and the CFPB at the national level: February 10, New York Daily News: Cage the sharks circling consumers Andy Morrison of the New Economy Project defends the CFPB and warns against a bill introduced …

Payday Reform News February 13

Highlight February 9, Bezinga: 'Know Before You Owe' Prepaid Card User Protections At Risk From New Senate Bill Article calls out a congressional effort to roll back the CFPB’s new protections on kinds of  prepaid cards that function as payday loans, with hidden fees that make them not really prepaid. More Coverage: Vanity Fair: Republican Effort to Screw Consumers Hits a Speed Bump …

Payday News January 13

Highlight January 13, The Register-Guard: Protecting the little guy This editorial out of Oregon outlines the threats against the CFPB, mentions its action against payday lenders and supports its independence. Top Stories January 12, Huffington Post: Trump Moves Closer To Gutting Elizabeth Warren’s Consumer Watchdog Ben Walsh and Ryan Grim report that Trump spokesman Sean Spicer said that Trump is considering appointing …