Payday Loan Sharks in Doral, Chumming it up with Trump

Last week, the payday lending trade group, CFSAA, held their annual conference at none other than the Trump Doral resort near Miami. Last year, they moved their annual conference from Phoenix to Trump’s gaudy hotel and golf course. Later that year, then-director of the CFPB Mick Mulvaney signaled that the agency would roll back crucial protections against predatory lending practices, …

Broad Coalition Opposes Proposal to Delay CFPB Payday Rule

The Consumer Financial Protection Bureau (CFPB) has proposed delaying when payday lenders would need to comply with a 2017 rule on predatory payday lenders by 15 months. This would allow the industry to skip the common-sense requirement that it verify that a borrower has the ability to repay a loan – and to continue trapping Americans in vicious cycles of …

Kraninger’s Feet Were Brought to the Fire. They’re Burnt to a Crisp.

You can find the piece in its entirety with images here Last week CFPB Director Kathy Kraninger testified in front of the House Financial Services Committee, marking her first hearing since taking the helm last December. Percy the Payday Loan Shark made his 2019 debut at the hearing, speaking to attendees outside. Percy wanted to give a huge thanks to …

Act now! Tell CFPB to Keep Protections from Payday Loan Debt Traps

Download the Call to Action In early February 2019, the current Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger released a proposal to gut the CFPB’s 2017 rule aimed at stopping payday and car title loans from trapping people in debt. Director Kraninger’s plan would repeal the heart of the 2017 payday rule, which generally requires that lenders determine a …