Payday News December 23-30


December 27, Los Angeles Times Nine years later, state wins key verdict over tribal payday lenders
This article reports that the California Supreme Court ruled for the state saying a case against payday lenders can proceed, and finding that their weak connections to Native American tribes did not give them immunity from state lending laws.
More coverage: Metropolitan News-Enterprise

December 23, TalkPoverty: The Obama Legacy: Protecting Consumers From Big Banks, Payday Lenders, and Debt Collectors
This column by Elizabeth Warren discusses the role of the CFPB and goes into some detail about the harms of payday lending and the importance of the pending rule.

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December 30, Argus Leader: Whitney: Gazing at crystal ball for new year
This comical look ahead to 2017 in South Dakota predicts that payday lenders who continue shutting their doors because of passage of the interest rate cap will suggest credit card companies be held to the same limits. These companies respond that their city’s success depends on “the ability to exploit financially vulnerable customers.”

December 29, Chicago Tribune: Consumer protections are going to the Piggies
In this bitter sendoff of 2016, Brian O’Connor says we can say goodbye to financial reforms including pending payday lending rules from the CFPB. He also mentions campaign contributions to Debbie Wasserman-Shultz from payday lenders.

December 29, New York Magazine: The GOP Is Looking to Fire One of the Few Adversaries of Wall Street Who’s Slated to Stay in Power
This article discusses the threat to the CFPB in the form of the possibility that Trump may try to fire him, noting that it would bring about the swift change the administration seems to want. It mentions payday lending reform as one of the issues the CFPB is working on among many.

December 29, Financial Advisor: Consumers Took Frugal Debt Splurge For Holidays
This brief reports holiday payday loans were up this Christmas season.

December 29, Resolve to fix finances to start the new year
This New Year’s piece recommends avoiding payday loans to get your money straight in 2017.

December 27, NMPoliticalReport: 2016 Top Stories #4: Demesia Padilla resigns
This article mentions unexplained payments to a New Mexico official from payday lender QC Holdings. She has resigned for this and another scandal.

December 23, Dayton Daily News: Springfield pastors, state lawmakers look to reform payday lending
This article discusses a coalition of Springfield pastors who want payday lending reform in Ohio and are pushing lawmakers to crack down. It includes pushback from industry representatives.
More coverage: WFMJ, Herald-Star, Columbus Dispatch,, Fremont News Messenger