February 23, 2016
Atlantic Journal Constitution
Watchdog group says David Scott received thousands from payday loan industry
And with his attack — lifted a little too literally from text written by a lobbyist for the lenders — Scott was taking the side of an industry that has given him more than $72,000 since his election to the House in 2002.
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February 24, 2016
Argus Leader
Payday lending bill killed in the House
The House of Representatives on a 21-47 vote killed a bill that would insulate the payday lending industry against mandatory interest rate caps.
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February 24, 2016
Longview News Journal
Longview City Council approves payday lending ordinance in 4-3 vote
City Council members adopted payday lending regulations Thursday by the slimmest of margins and lengthy public discourse.
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February 23, 2016
Opensecrets.org (Center for Responsive Politics)
Lawmaker who recited words of lobbyist also took payday lenders’ donations
And with his attack — lifted a little too literally from text written by a lobbyist for the lenders — Scott was taking the side of an industry that has given him more than $72,000 since his election to the House in 2002.
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Bloomberg BNA | Top CFPB Official Defends Federal Efforts on Payday Lending
Baptist News Global | Faith groups back payday lending reform
CU Insight | CFPB witness indicates upcoming payday lending proposal will protect credit union products
February 23, 2016
Oklahoma Watch
After News Stories, Lawmaker Kills High-Interest Loan Bill
Holt said members of the payday lending industry approached him about writing the bill, SB 1314, in order to avoid pending federal regulations from the Consumer Financial Protection Bureau.
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February 23, 2016
Law 360
11th Circ. Says Bank Must Face Payday Lending RICO Suit
The Eleventh Circuit said Tuesday that First Premier Bank must face a Racketeer Influenced and Corrupt Organizations Act suit alleging the bank enabled online payday lenders’ illegal transactions, finding an arbitration agreement signed by the putative class’s lead plaintiff unenforceable.
February 22, 2016
Mississippi Public Broadcasting (blog)
Religous leaders say payday lending causes serious debt
Religious leaders are asking legislators to crack down on payday lending companies. They say these loans can do more harm than good. MPB’s Maura Moed reports.
February 22, 216
Lincoln Journal Star
Editorial, 2/20: Improve payday loans
Sen. Kathy Campbell of Lincoln has proposed reasonable restrictions on the most extreme of the predatory practices used by payday lenders, while allowing them to stay in business.
February 22, 2016
Dallas Morning News
Cane’s Debut Signals Progress
The Texas Car Title & Payday Loan operation is one of dozens that have closed since Dallas passed its landmark ordinance in 2011.
February 19, 2016
SDPB Radio
Measure May Circumvent Payday Lending Cap Vote
In November voters in South Dakota will decide on a measure that caps the amount of interest a payday lender can charge at 36 percent.
February 19, 2016
Legal Newsline
FTC mailing checks to consumers victimized by alleged payday loan scam
The Federal Trade Commission announced that it will mail checks to consumers who were victims of a scam that allegedly promised help in getting payday loans.
February 17, 2016
NewsChannel 5
Lawmakers Took Payday Lenders’ Money, Asked Few Questions
The payday lending lobby contributed hundreds of thousands of dollars to Tennessee lawmakers as the industry pushed for a new type of loan in the state, NewsChannel 5 Investigates discovered.
February 23, 2016
The New York Times
Pro Racecar Driver Scott Tucker Pleads Not Guilty to Charges
Professional racecar driver Scott Tucker has pleaded not guilty in New York to charges in a payday lending scam. The 53-year-old Tucker entered the plea in his first appearance in Manhattan federal court Tuesday.
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February 22, 2016
Chicago Tribune
Payday lending’s quite a racket — and the feds finally agree
While payday loans are legal in many states, the interest rate is capped way before 400 percent, and are plenty profitable for payday lenders who run legal (if unconscionable) operations.
February 22, 2016
The News & Observer
Susan Tompor: Scammed you once? Crooks bet on scamming you again
Scammers are now running something called “asset recovery” cons that target consumers. The Consumer Financial Protection Bureau noticed a pattern in its complaint data of scam victims getting scammed again.
February 19, 2016
Greater Fort Wayne Business Weekly
Developing a community alternative to the ‘debt trap’Brightpoint, based in Fort Wayne, is extending a program to northeast Indiana workers that gives a borrower up to a year, rather than only two weeks, to pay back a small loan charging 18 percent interest.