Online Lending Needs More Regulation: New York Regulator July 30, Bloomberg Online lenders should face stricter rules and oversight, according to a recent report from the New York Department of Financial Services (NYDFS). Despite a suspect nominee, CFPB can still protect consumers July 26, The Hill The Senate Banking Committee conducted a confirmation hearing for Consumer Financial Protection …
Payday Loan Reform News – July 23
Highlight Trump’s Pick for CFPB Dodges Senators’ Policy, Budget Questions July 19, Bloomberg President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau dodged most questions about her policy priorities and plans for cutting the bureau’s budget at a contentious July 19 confirmation hearing. Other News The Structural Biases Behind Financial Lending Won’t Stop Until We Start Speaking Out …
Payday Loan Reform News – July 16
Highlight Why are payday loans so popular with the military? July 11, American Banker Short-term lending products bridge a financial gap for their users, but the rates that lenders charge — and sometimes obscure as fees — can verge on predatory. Most consumers avoid these products, but active members of the military seem to embrace them. More News Latest battle …
Payday Loan Reform News – July 9
Highlight Trump Administration War on CFPB Is Bad News for Communities of Color July 7, Common Dreams Two years into the Trump administration, communities of color — and anyone using financial products, for that matter – are losing hope of finding an independent, dogged champion in Trump’s iteration of the Consumer Financial Protection Bureau. A brain-child of Senator Elizabeth Warren, …
Payday Loan Reform News – July 2
Highlight AG Joins Effort To Fight Legislation Terminating States’ Ability To Prevent Abusive Lending Practices June 28, Los Alamos Daily Post The coalition of 20 AG’s sent a letter to leadership in the U.S. Senate expressing their opposition to the proposed legislation, which would invalidate the States’ ability to limit interest rates on payday and other high interest loans, …