The Center for Responsible Lending (CRL) recently issued a brief highlighting the ways in which banks abused their customers,, using a practice known as advanced deposit loans. Six banks were making predatory payday loans to their own account holders until the FDIC stopped them in 2013. Wells Fargo, US Bank, Regions Bank, Fifth Third Bank, Bank of Oklahoma and Guaranty …
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 …