Highlight Protect the Military Lending Act September 20, The Hill Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney has vowed to end proactive oversight of payday lenders and other predatory lenders, accusing his own agency’s supervisors of being “overly aggressive.” The MLA’s protections include clear-cut guidelines for bank and non-bank lenders. Among them, lenders can’t charge service members …
Payday Reform in the News March 17
Highlight They’re Back! Loan Sharks Circling Again March 15, Arkansas Online Strong editorial backing lawmakers in their work to keep CashMax from getting borrowers caught up in “involuntary servitude.” Top Stories Huge majority of Ohioans want payday lending reform – now legislature must act: Brent Larkin March 16, Cleveland.com A new poll commissioned by The Pew Charitable Trusts …
Payday Reform News: October 25 – 28
Highlight October 25, Grand Rapids Herald Review: Op/Ed: CFPB Should Strengthen Its Payday Loan Rules This opinion piece by Senator Al Franken (D-MN) includes a borrower story and urges the CFPB to crack down on the payday lending industry. The author commends the CFPB for the positive portions of the proposition, but also points out its flaws. More Coverage: Yahoo …
Payday Reform News: September 3-9
Highlights: September 7, AZ Central: Our View: Why The Feds Must Regulate Payday Loans This is an editorial piece that stresses the need for the CFPB to take action on predatory lending, due to the harm it has caused to families and the local economy with many states’ current laws enabling these practices. The author urges Arizona state legislators to …
Payday Reform News: August 6-12
Highlight of the week: August 11, Christianity Today: The Ordinance – a new documentary film co-produced by Deidox Films and Christianity Today Check out this exclusive free video premiere of how clergy in Texas took on a billion-dollar industry that preyed upon the poor. When the State of Texas did not enact rate cap reform, churches stood up to advance …
Payday News, week of April 8, 2016
Blogs, posts & press releases: April 2016 Center for Responsible Lending Enfoque: Payday (PDF) Spanish language magazine published by CRL with an issue focusing exclusively on payday lending. April 8, 2016 New Economy Project New Economy Project and Allies Go to DC to Demand Strong Payday Lending Rule Community and clergy leaders from Paydayfreelandia call on CFPB to issue strong …
Payday News, week of January 22, 2016
January 21, 2016 Yahoo Finance U.S. agency seeks $1.3 bln in racecar driver’s payday lending case U.S. regulators have asked a federal judge in Nevada to order a professional racecar driver and various entities he and his late brother controlled to pay more than $1.32 billion for engaging in a scheme to deceive payday lending customers. For more coverage: Law360 …