Groups around the country are responding to the Consumer Financial Protection Bureau’s proposed rule. Here is what many of them have to say: Stop The Debt Trap: The CFPB’s Payday Lending Proposed Rule: What Works, What Doesn’t Joint Statment: AFR, 9 Organizations Call the Payday Rule a Good Beginning National Groups: Allied Progress: CFPB’S New Payday Rule A “Good Start” …
Payday Reform News: Week of May 31
May 27, 2016 Kansas City Star Hopes soar on effort against payday loans Other Top Stories: May 31, 2016 Columbia Missourian CARL KENNEY: It’s time to stop financial predators from gouging the vulnerable Payday lenders are gangsters protected by our state government. They wreak havoc on families who make the decision to pay high interest rates because they have few …
Payday News, week of May 20, 2016
May 18, 2016 The Wall Street Journal CFPB to Propose Payday-Loan Rule on June 2 The Consumer Financial Protection Bureau set June 2 as the day it will propose a long-awaited rule to curb payday lending, moving a step closer to implementing the first federal regulation for an industry now overseen by states. More Coverage: The Kansas City Star | …
Advocates Respond: CFPB announces possible payday loan rule release date
AFR statement: On June 2, the Consumer Financial Protection Bureau (CFPB) will hold a hearing in Kansas City, where it is expected to release its proposed regulations for payday and other small-dollar consumer lenders on June 2. Meanwhile, the agency has put out a study of the car-title loan market, adding new weight and urgency to the case for these …
New Mexicans learn how to Be A Rule Changer in Gallup
New Mexico- On April 9th, the Pit of Despair was hosted by the South West Center for Economic Integrity at the Gallup Convention Center in the city in the center of the Navajo Nation. Sharkie, a predatory payday lender, found an accommodating habitat in the desert town of Gallup. How can a shark thrive in the desert? By swimming through …
Payday News, week of May 14, 2016
Payday News, May 15 – 22 To see most of this listing in blog form here. This week’s highlight: Google announced last Wednesday that it’s putting an end to search ads for payday loans. The story grabbed a lot of media attention: Twitter: .@google is banning search ads for payday loans. Here’s why civil rights groups are happy about it: …
AFR, others laud Google decision to ban payday loan search ads
To its considerable credit, Google has decided to stop running search ads for debt trap payday loans. What does that mean? Google will not accept search ads that send people either directly or indirectly to payday lenders. As a result of this change, when people type in searches like “I need money for food” or “I need money for rent,” …
Payday News, week of May 7, 2016
Payday News, May 2 – 6 May 3, 2016 The Oregonian Bankrupt cancer survivor gets shock: $300 loan balloons into $40,000 debt in 2 years Ms. Banks has run up against a practice in the payday and title loan industry that consumer advocates are trying to change. More coverage: Raw Story | Oregon cancer survivorís payday loan balloons from $300 …
Payday News, week of April 29, 2016
Payday News, April 22 – 29 April 26, 2016 Florida Politics Advocacy Group Asks Public What Florida Lawmaker They Should Target Next Over Payday Loans After nearly two months of hammering Democratic National Committee Chairwoman Debbie Wasserman Schultz for “sabotaging” President Barack Obama’s efforts to hold payday lenders accountable, Allied Progress now says they’re moving on to target another Florida …
Payday News, week of April 22, 2016
Partner blogs, posts & press releases: April 20, 2016 Center for Responsible Lending (CRL) New CFPB Report Details Financial Harms Caused by Payday Lending Today the Consumer Financial Protection Bureau (CFPB) released a new report that proves how high-cost fees on small-dollar loan create rather than resolve financial challenges for borrowers. April 20, 2016 Consumer Federation of America (CFA) CFPB …