Payday Lending News
The latest news on payday loans and the payday lending industry from the Center for Responsible Lending.
- Advocacy Group Targets Payday Lenders' High-Interest Fees
INFORUM (ND) 18 Mar 2014
Low- and middle-income consumers in Minnesota paid more than $82 million in fees to payday lenders between 1999 and 2012.
- Montgomery City Council to Consider Restrictions on Payday, Title Loan Businesses
Montgomery Advertiser (AL) 17 Mar 2014
A proposed ordinance for Montgomery, Ala., would restrict locations of pawn shops, auto title lenders, and payday lenders within the city.
- 35-34: House Passes Bill Imposing More Restrictions on Payday Lenders
Idaho Reporter 17 Mar 2014
Payday lending legislation in Idaho's House of Representatives just squeaked by in a March 17 vote, winning approval by a margin of 35 to 34.
- Cash Store Proposed in Grand Rapids as Mayor Explores Payday Lending Crackdown
MLive.com 13 Mar 2014
In Michigan, Grand Rapids Mayor George Heartwell is opposing an Approved Cash Advance store that wants to set up shop in the city.
- Fed Watchdog Investigates Companies That Link Borrowers, Payday Lenders
Columbus Dispatch 13 Mar 2014
The Consumer Financial Protection Bureau (CFPB) is conducting a probe into companies that connect cash-poor consumers with payday lenders.
- Payday Lending Bill Passes Idaho Senate
Idaho Statesman 11 Mar 2014
The Idaho Senate has passed SB 1314 to curb payday lending in the state and cap the maximum amounts and interest rates of these loans.
- Payday Loan Law Helps State Borrowers
Minnesota Daily (MN) 10 Mar 2014
Minnesota State Rep. Joe Atkins (DFL-Inver Grove Heights) has introduced legislation to regulate the state's payday lending industry.
- Waterloo Mulls Zoning Clamps on Payday Lenders
WCF Courier 07 Mar 2014
In Waterloo, Iowa, new Ward 3 councilman Pat Morrissey is calling for city zoning changes as an attempt to rein in payday lenders. Such changes would limit where the lenders can set up shop.
- House, Senate Committees Approve Payday Loan Bills
Montgomery Advertiser (AL) 06 Mar 2014
Committees in the Alabama House and Senate on March 5 approved two bills that would place some limitations on payday lending in the state.
- State Lawmakers to Consider Proposals to Add New Caps to Payday Lending Rates in Louisiana
Associated Press 05 Mar 2014
In Louisiana, legislation sponsored in the state House by Rep. Ted James (D-Baton Rouge) and in the upper chamber by Sen.
- Pay Day Loan Reform Bill May Return
Montgomery Advertiser (AL) 04 Mar 2014
Alabama lawmakers are planning to revive a proposal to regulate payday lending in the state. The House Financial Services Committee is scheduled to revisit legislation sponsored by Rep.
- College Station City Council Joins Bryan in Regulation of Payday Loans
The Eagle (TX) 28 Feb 2014
In Texas, the College Station City Council has adopted regulations that restrict payday lenders. The state currently has no limits on fees or loan sizes from payday or auto title lenders, but ...
- Orr Payday Lender Bill Gives Borrowers More Time
Decatur Daily News (AL) 26 Feb 2014
New legislation has been proposed to tighten control of Alabama's payday lending industry.
- Payday Loan Reform Bill Flies Through House
Salt Lake Tribune (Utah) 24 Feb 2014
Payday lending reform bill HB127 passed the Utah House Monday on a 69-4 vote and has moved to the Senate. The measure is sponsored by Rep. Jim Dunnigan (R-Taylorsville).
- Bill Would Legalize Payday Lending in Pa., Labeled Predatory by Critics
Pittsburgh Tribune-Review 22 Feb 2014
A bill in the Pennsylvania Senate, similar to one that passed the state House in 2012, aims to legalize payday loans there.
- 'I Keep My Word:' SD Lawmaker Vows to Take Payday Loan Limits to Voters After Bill Defeated
Associated Press 19 Feb 2014
After the South Dakota House Commerce and Energy Committee voted down a measure to further restrict short-term lending such as payday loans on Feb. 19, bill sponsor Rep.
- Missouri Senate Approves Requirement for Extended Repayment of Payday Loans
St. Louis Post-Dispatch 19 Feb 2014
The Missouri Senate has endorsed a bill that would allow payday loan borrowers to receive extended payment plans. The measure, sponsored by Sen.
- Council Adopts Law to Restrict 'Pay-Day' Lenders
InstantNewsBellaire.com (Texas) 18 Feb 2014
The Bellaire City Council has unanimously approved an ordinance that would allow the city to regulate payday and auto title lenders.
- Payday Legislation Gets Second Wind
Times Daily (Alabama) 16 Feb 2014
A bill to regulate payday lending in Alabama recently stalled in a House committee, but two senators are now considering their own measures. Sen.
- Payday Loan Bill Flies Through Panel
Salt Lake Tribune (UT) 14 Feb 2014
Proposals to limit payday lending in Utah have hit roadblocks in the past, but recent scandals have encouraged swifter action.