Highlight Trump’s Pick for CFPB Dodges Senators’ Policy, Budget Questions July 19, Bloomberg President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau dodged most questions about her policy priorities and plans for cutting the bureau’s budget at a contentious July 19 confirmation hearing. Other News The Structural Biases Behind Financial Lending Won’t Stop Until We Start Speaking Out …
Payday Loans Reform News – October 30
Highlights The Little Guys Win One on Payday Loans October 23, New York Times Since the federal Consumer Financial Protection Bureau opened its doors in 2011, the agency’s investigations and enforcement actions have returned more than $12 billion to auto buyers, homeowners, credit-card holders and other borrowers who were victimized by deceptive or predatory practices. Consumers who have been …
Payday Reform News November 5-11
Highlight In a hard fought battle where out-of-state predatory lenders spent over $3 million on advertising and confusion, South Dakotans overwhelmingly voted to put a 36% state rate cap on payday and car title loans, joining 14 other states that have similar caps: November 9, SDPB Radio: Voters Approve Payday Lending Rate Cap Steve Hildebrand, who has been a leader …
Payday Reform News: September 24-30
Highlight September 28, New Brunswick Today: Federal Agency Wants Comments From Public on Payday Loan Rules The article states that the CFPB is accepting comments for payday lending reform, and provides details about the proposal. Partner Blogs & Press Releases Allied Progress: CFPB Must Closely Scrutinize Comments Opposing Proposed Payday Lending Rule Stop the Debt Trap: Stop the Debt Trap: …
More Than 100 House Members Send Letter Urging Strong CFPB Payday Rule
Members Applaud Bureau for First Step in Regulating Small-Dollar Lending Industry Washington, D.C.- Today, 104 House Members, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to the Consumer Financial Protection Bureau (CFPB) urging it to adopt a strong final payday lending rule and close loopholes that harm consumers. Congress gave the …
Payday Reform News: August 27-Sep 2
Highlights August 30, Arizona Capitol Times: Stop triple-digit interest rates for good This opinion piece from Diane Brown and Kelly Griffith recount Arizona’s 2008 ballot measure defeating the payday industry’s attempt to keep triple-digit interest rates legal in Arizona. It mentions PIRG’s August report showing 91% of consumer complaints on payday to the CFPB show evidence of the unaffordability of …
28 Senators call for CFPB to strengthen payday lending rule
28 Senators, led by Senators Brown Coons, Durbin, and Merkley, signed onto a letter in support of a strong final CFPB small-dollar lending rule. The detailed letter is a powerful call to the CFPB to strengthen its final rule and ensure that we stop the debt trap. Read the full letter. “We believe that the CFPB’s efforts will help to …
Payday News, December 11-22
December 21 CBS Dallas-Forth Worth New Ordinance In Mequite For Payday Lending Companies Mesquite joins 29 other Texas cities to pass ordinances regulating payday and title loans. For more coverage: NBC Dallas-Forth Worth | Mesquite Approves New Policies for Payday Lenders December 21 Connecticut Post Connecticut probes Oklahoma tribe’s payday loan businesses The state Department of Banking is investigating small …