Payday News December 3-9

Highlight: December 3, Alamogordo Daily News: ACS One-Stop Shop for Families An Army Community Service center in New Mexico is offering a “one stop shop” to low-income families, providing them with toys, food, and other holiday items. One of the purposes of the center is to prevent families from taking out payday loans to afford items around Christmastime.                  Repost: Las Cruces Sun-News …

Payday Reform News: October 29- November 4

Highlight November 1, WABE 90.1: Georgia Supreme Court Rules Company Violated Payday Lending Ban The Georgia Supreme Court has ordered Western Sky Financial to pay $15 million, which is about the amount that the company took from borrowers since the case was first filed. More Coverage: The Atlanta Journal-Constitution: Georgia Supreme Court Blocks South Dakota Payday Lender Atlanta Business Chronicle: …

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: September 17-23

Highlight September 19, KY3: Springfield City Council Asking Feds to Better Regulate Payday Loans The Springfield City Council decided to pass a resolution allowing the city to inform the CFPB that they must further regulate payday lending. There was a large presence of faith-based community members who came to express their concerns about how the payday lending industry has affected …

Payday Reform News: September 10-16

Highlights September 13, My News LA: Californians paying over $700 million in payday loan fees On September 12th, California’s Board of Supervisors unanimously voted to support reform for predatory lending practices, stating that borrowers in California are paying over $700 million on their loans each year, including fees. More Coverage: Los Angeles Wave: Payday Lenders May Face New Regulations Top …

Cities Demand the CFPB Strengthen the Payday Lending Rule

Cities around the country are passing resolutions telling the CFPB to strengthen its rule to rein in abuses by the payday lending industry. In Pennsylvania and New Jersey, municipalities are calling on their state capitals to stand strong against industry lobbyists, and want a stronger CFPB rule that protects their already strong state caps. Philadelphia, Pennsylvania Essex County, New Jersey …

Payday Reform News: July 29-August 5

Highlight of the week: August 4, Wisconsin Public Radio: Rally Against Payday Loan And Vehicle-title Lenders More than 100 activists from across the nation rallied at a Milwaukee payday loan storefront earlier this week demanding the Consumer Financial Protection Bureau properly regulate payday and car-title lenders with high interest loans. Partner Blogs and Statements: August 4, National Council of La …

Payday News Stories, Week Ending December 3rd, 2015

November 30 Business First Ohio payday lender cuts jobs, blames new regulations The payday lending business Community Choice Financial Inc. claims to be letting go of employees due to impending restrictions on the industry. November 20 The Nation Payday Lenders Keep Evading Their Regulators. Can Anyone Stop Them? The article highlights how loopholes in payday lending regulations allow lenders to …