From Americans for Financial Reform (https://ourfinancialsecurity.org/): Tell Your Representative to Sign On to Letter Urging CFPB to Rescind Harmful Payday Rule Proposal that Harms Consumers Earlier this year, the Consumer Financial Protection Bureau announced it would rescind the ability-to-repay standard … Continued
Posted at https://www.chn.org/2018/05/18/consumer-protections-payday-lenders-survive-now/#.Wv7e7-4vwdU By David Elliot May 18, 2018 The Trump Administration, payday lenders, and their allies in Congress have been working for some time now to roll back protections designed by the Consumer Financial Protection Bureau (CFPB) to restrict the … Continued
From Prosperity Now (https://prosperitynow.org/): TAKE ACTION: The House of Representatives is poised to open a huge loophole in state interest rate caps and the right of state voters to enact rate caps, effectively giving the green light to payday lenders … Continued
The highly anticipated rules might spur lenders to lobby states to loosen their own laws. BY LIZ FARMER | SEPTEMBER 27, 2017 Sweeping new federal rules aimed at curbing payday loans are to be released in the coming days. But backers of the … Continued
From Americans for Financial Reform (http://ourfinancialsecurity.org/): Click the image above to read/download the “Caught in the Debt Trap” report. “Caught in the Debt Trap” provides a snapshot of the effect payday and title loans have had on the lives of … Continued
Posted at http://www.chn.org/2016/08/17/stop-debt-trap/#.V7So5fkrIdU By Lecia Imbery August 17, 2016 The statistics around payday and car title loans are scary: The loans come with interest rates of 300-400 percent on average. The average payday loan customer who borrows $400 for a loan … Continued