Payday Lending News
The latest news on payday loans and the payday lending industry from the Center for Responsible Lending.
- Dems Target Payday Lenders
The Hill 17 Jul 2014
On July 17, Democrats in the U.S. House and U.S. Senate introduced the Protecting Consumers from Unreasonable Credit Rates Act, which targets the fees payday lenders charge low-income borrowers for ...
- Missouri Governor Vetoes Payday Loan Legislation
St. Augustine Record 11 Jul 2014
Missouri Gov. Jay Nixon has vetoed a bill that would have re-written the state's payday loan laws. He called the newly proposed limits an industry-backed “sham” that fell short of ...
- Miss. Payday Lending Company Investigated
Jackson Clarion-Ledger (MS) 02 Jul 2014
The Mississippi Department of Banking and Consumer Finance is investigating potentially illegal practices at payday lender All American Check Cashing Inc.
- Fresno City Council Votes to Put a Lid on Payday Lenders
ABC30 Action News 26 Jun 2014
The Fresno City Council has voted to limit payday lenders. City leaders have learned that Fresno's 66 existing payday lenders may be hurting the local economy by imposing interest rates topping 400 ...
- Alternative Credit Draws Mainers In, at Heavy Cost
Portland Press Herald (Maine) 22 Jun 2014
With 7.5 percent of its population patronizing payday lenders, rent-to-own shops, refund anticipation loans, and pawn shops, Maine more than any other New England state is finding its residents ...
- Dunn Still Focused on Payday Loan Bill
Troy Messenger (AL) 20 Jun 2014
Troy, Ala., City Councilman Charlie Dunn is holding out hope for a plan that would limit the number of payday lenders locally.
- Payday Lending Dominates CFPB Hearing on Mobile Payments
American Banker 13 Jun 2014
The Consumer Financial Protection Bureau (CFPB) hosted a June 12 field hearing in New Orleans to seek input on mobile banking technology, but it was the topic of payday lending that dominated the ...
- Cordray Defends Rulemaking Delays to Senate Panel
American Banker 11 Jun 2014
The Consumer Financial Protection Bureau (CFPB) has taken longer than expected to issue a final report on arbitration clauses and to develop rules for prepaid cards, payday loans, and student loans.
- Payday Loan Bill: Reform or Phony?
St. Louis Post-Dispatch 07 Jun 2014
The Missouri Legislature this year voted to tighten restrictions on payday lenders, but consumer advocates say lenders will be able to easily side-step these new barriers.
- Payday Lending Bill Stalls on Final Day
Associated Press 19 May 2014
A bill to protect Minnesota borrowers from payday lenders, backed by Gov. Mark Dayton, did not win final approval from state lawmakers by the end of their session on May 16.
- Critics Say Payday Lenders Are Out of Control
KFOXTV.com 05 May 2014
Retired New Mexico senator Steve Fischmann is tackling payday lending in Las Cruces, where borrowers can choose from more than 40 different payday or auto title loan locations.