Highlight October 25, Grand Rapids Herald Review: Op/Ed: CFPB Should Strengthen Its Payday Loan Rules This opinion piece by Senator Al Franken (D-MN) includes a borrower story and urges the CFPB to crack down on the payday lending industry. The author commends the CFPB for the positive portions of the proposition, but also points out its flaws. More Coverage: Yahoo …
Payday Reform News: October 15-24
Highlight October 23, The Brownsville Herald: Texas Appleseed Cites Loan Model Launched in Brownsville Texas Appleseed’s recent report includes the business model and loan program that Brownsville, TX uses to provide alternative financial services to payday loans. Top Stories October 24, Martinsville Bulletin: Letter to the Editor: Time for a change A letter to the editor calls on Virginians to …
Payday Reform News: October 8-15
Highlight October 10, Chicago Tribune: There’s High Interest in Cracking Down on Payday Loans This article gives a general overview of the fight against payday lending the in the last 20 years, and the difficulties that must be overcome in order to create a feasible solution to this issue. This article quotes Mike Calhoun. More Coverage: Wall Street Journal Partner …
Advocates Share Voices of Hundreds of Thousands Calling for End to Predatory Lending
Advocates Share Voices of Hundreds of Thousands Calling for End to Predatory Lending WASHINGTON _ More than 700 groups carrying the voices of hundreds of thousands of Americans from every state in the union today called on the nation’s consumer financial watchdog to put forth a strong final rule that will truly end the abuses of payday lending. In June, …
Payday Reform News: October 1-7
Top Stories October 7 Philadelphia Tribune, 1st Presbyterian panel discussion focuses on payday lending By Samaria Bailey Reports on September 29 event co-sponsored by Pennsylvania PIRG and One Less Foundation, a local organization. October 7 The Intercept, Google said it would ban all payday loan ads, it didn’t By David Dyen Reports on the payday industry’s use of “lead generators” …
Over 700 Organizations Across the Country Join Comment Letter for a Strong Payday Rule
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More than 400,000 Comments Call on CFPB to Crack Down on Abusive Lending
As comment period closes Friday on payday lending rule, agency flooded with demands to make it stronger, smarter WASHINGTON – More than 400,000 comments asking for a rule on payday lending to be stronger and smarter have flooded in to the Consumer Financial Protection Bureau (CFPB) since a draft proposal on the rule was unveiled in June, consumer advocates announced …
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: …