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 …
Sen. Elizabeth Warren, Community Activists, Faith Leaders Address Moral Imperative to Rein In Payday Lenders
Leaders Call for Comments to Consumer Financial Protection Bureau to Stop The Debt Trap Washington, D.C. – September 27th, U.S. Sen. Elizabeth Warren (D-MA), joined by faith leaders and community activists from around the country, spoke at a tele-town hall about the dangers of payday lending, and why we have an obligation to stop the predatory payday loan debt trap. …
VIDEO: We just found out how easy it is to turn YOUR money into OUR money – with payday loans!
The people at Friend Dog Studios have a message for you about payday loans, but you’ll have to read between the lines, or go to the website at the end.
Payday Reform News: September 17-23
Highlight September 19, KY3: Springfield City Council Asking Feds to Better Regulate Payday Loans The Springfield City Council decided to pass a resolution allowing the city to inform the CFPB that they must further regulate payday lending. There was a large presence of faith-based community members who came to express their concerns about how the payday lending industry has affected …
Los Angeles County Takes Stand Against Predatory Payday Lending Practices
Click here for the full blog post from California Reinvestment Coalition! Putting finishing touch on Pit of Despair- thanks to Americans for Financial Reform for sharing it! On Thursday, September 8th, the Chair of the LA County Board of Supervisors, Hilda L. Solis, hosted a press conference with LA community leaders where she talked about the financial harms caused by …
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 …
Payday Reform News: September 3-9
Highlights: September 7, AZ Central: Our View: Why The Feds Must Regulate Payday Loans This is an editorial piece that stresses the need for the CFPB to take action on predatory lending, due to the harm it has caused to families and the local economy with many states’ current laws enabling these practices. The author urges Arizona state legislators to …
Payday Reform News: August 27-Sep 2
Highlights August 30, Arizona Capitol Times: Stop triple-digit interest rates for good This opinion piece from Diane Brown and Kelly Griffith recount Arizona’s 2008 ballot measure defeating the payday industry’s attempt to keep triple-digit interest rates legal in Arizona. It mentions PIRG’s August report showing 91% of consumer complaints on payday to the CFPB show evidence of the unaffordability of …