Payday News, week of March 11, 2016

March 9, 2016
Lubbock Avalanche-Journal
Catholic Church battling predatory lending
The Catholic Church is horrified at the financial traps some of its parishioners have fallen into through payday and auto title loans.
More coverage:
Fox 34| Community leaders want Congress to regulate payday and title loans

March 11, 2016
Payday lending reform ambushed in Alabama Senate Alabama Senate Pro Tem Del Marsh received $43,000 in donations from the industry, and that’s if you don’t count $10,000 his campaign got from one of the industry’s key lobbyists.

More coverage:
Times Daily | Senate delays vote on payday lending reform
WVTM | Senate delays vote on payday loan bill reprints: ABC3340 and | Committee hears both sides of payday loan debate

March 10, 2016
Huffington Post
DNC Chair Debbie Wasserman Schultz Is Taking A Ton Of Heat For Helping Payday Lenders
Democratic National Committee Chair Rep. Debbie Wasserman Schultz (D-Fla.) has been working to gut new rules intended to rein in predatory payday lending. Her fellow Democrats don’t seem pleased.

More coverage:
Democracy Now | Protesters Slam DNC Chair for Fighting Payday Lending Regulation
The American Genius | DNC Chair backs controversial Payday Loan bill | The payday loan family behind Debbie Wasserman Schultz’s deregulatory zeal
CommonDreams | Can This Man Unseat Corporate-Cozy DNC Chair Debbie Wasserman Schultz?

March 9, 2016
Nonprofit group targets Wasserman Schultz over payday lenders
Allied Progress is hammering Democratic National Committee Chairwoman Debbie Wasserman Schultz in a television ad that will begin airing Thursday for “sabotaging” President Barack Obama’s efforts to hold payday lenders accountable.
Here’s The Ad:
More coverage:
The Wall Street Journal | Rep. Debbie Wasserman Schultz’s Payday-Loan Stand Targeted in Ad Campaign
Sunshine State News | Debbie Wasserman Schultz Targeted by Allied Progress in New TV Ad
International Business Times | Democratic Leader Debbie Wasserman Schultz Slammed For Payday Loan Industry Connections

March 9, 2016
The News & Observer
House to debate plan creating new loans from payday lenders
A proposal allowing payday lenders barred from operating by a 2008 voter initiative to offer a new high-interest loan product is set for debate in the Arizona House.

March 9, 2016
The Salt Lake Tribune
New payday loan regulations receive final OK
The Senate gave final passage Wednesday to tighter regulations for the high-interest payday-loan industry. Senators voted 22-1 to pass HB292, and sent it to Gov. Gary Herbert for his possible signature.

March 8, 2016
CFPB Still Pushing to Regulate Payday Lenders
Last month, Consumer Financial Protection Bureau (CFPB) acting Deputy Director David Silberman testified before a House subcommittee on the Bureau’s work related to short-term, small-dollar lending.

March 8, 2016
The Detroit News
Bills to ease payday loan laws set for hearing
The state senate banking committee is set Tuesday to hear testimony on two bills quietly introduced Friday that critics say are designed to foil upcoming federal regulations on payday lenders, and could legalize auto title lending in Michigan.

March 8, 2016
Los Angeles Times
Lawmakers are fighting efforts to rein in predatory lending. Why?
In a bizarre display of bipartisan cooperation, a handful of Democratic lawmakers have joined Republicans in trying to cripple the Consumer Financial Protection Bureau.

March 8, 2016
Lexington Herald Leader
Ky. needs a raise not a new debt trap
HB 520, which would enable the payday-loan industry to evade new federal protections for consumers, would be a disservice to many of the Kentuckians Stumbo is trying to help with a wage increase.

March 7, 2016
Philly Voice
Fetterman calls for DNC Chair to resign over payday loan bill Senate candidate says Wasserman Schultz has ‘abandoned’ party’s values
More coverage:
Pittsburgh Post-Gazette | Fetterman to Dem chairwoman: time to resign
Daily Kos | Yet another reason for why DNC Chair Debbie Wasserman Schultz should resign

March 7, 2016
Digital Journal
New York State Bans Payday Loans
New York State has not only banned five payday loan companies but imposed heavy penalties on them as well. As a result they will not be able to carry out any operations in the state

March 5, 2016
The Spokesman-Review (Associated Press)
Idaho sees 34 percent drop in number of payday lenders
The number of licensed payday lenders dropped 34 percent last year. Expected new federal regulations could be the cause of the decrease.
For more news:
The News & Observer | Number of licensed payday lenders in Idaho drops

March 11, 2016
American Banker
Payday Lending Emerges as New Litmus Test for Democratic Candidates
A left-leaning pressure group, Allied Progress, fixed its focus on members of Congress it sees as insufficiently tough on payday lending.

March 10, 2016
The Salt Lake Tribune
Post Office in line to replace payday lenders
The idea of adding small-scale banking services to the Post Office’s portfolio is supported by such proletarians as Sens. Bernie Sanders and Elizabeth Warren.

March 10, 2016
Kansas City Star
A short list of outrageous consumer rip-offs, and most are legal
Your friendly “quick cash” shop is not, as advertised, a place to help out a neighbor in a pinch.

March 9, 2016
Payday loan regulations
Payday leaning companies are on almost on every corner in Dothan, and much of the state. Predatory lending companies are now having to follow new guidelines in Dothan.

March 8, 2016
Small Business Trends
FTC Charges Brokers for Selling Personal Data Collected from PayDay Loan Companies
The U.S. Federal Trade Commission (FTC) has cracked down on data brokers for allegedly hawking sensitive personal details of unsuspecting consumers to scammers.

March 7, 2016
Digital Journal
Advertising Practices of Payday Lenders Come Under Scrutiny
Payday lender advertising practices and the impact they have on grown-ups and kids alike, have been taken into consideration by the financial regulatory authorities.

March 7, 2016
Deep in debt? Church pays off payday loans
The Worship Center Christian Church in Birmingham announced during services on Sunday morning that it will pay off the payday loans of 48 people struggling with debt.
More coverage:
ABC3340 | ‘The Worship Center’ pays $41K in debt for church members
Action Institute Power Blog | Alabama Church Pays Off Payday Loans

March 3, 2016
Detroit Free Press
Top 10 consumer gripes: Debt calls, payday loans, fraud
Michigan’s Attorney General Bill Schuette released the Top 10 Consumer Complaints list today, based on nearly 9,000 written complaints filed with the consumer protection team at the state AG’s office last year.