Payday Lending News
The latest news on payday loans and the payday lending industry from the Center for Responsible Lending.
- Middlemen for Payday Lenders Under Fire
Wall Street Journal 08 Apr 2014
Illinois Attorney General Lisa Madigan has filed a lawsuit against MoneyMutual LLC, which serves as a middleman between consumers and payday lenders.
- Payday Loan Regulations Stall
Houma Today (LA) 07 Apr 2014
A bill that would have imposed restrictions on Louisiana's short-term lending industry was killed in the House Commerce Committee on April 7. House Bill 239, introduced by Rep.
- Hotdish Politics: Payday Lenders in the Cross Hairs
Minneapolis Star Tribune (MN) 05 Apr 2014
Payday lenders, criticized for trapping borrowers in a cycle of debt, are being targeted by a coalition in Minnesota that aims to restrict the number of loans such businesses can make to a single ...
- Payday Loan Database Bill Dies
Montgomery Advertiser (AL) 04 Apr 2014
Before adjourning on April 3, the Alabama Legislature declined to grant final approval to a payday loan bill that had seemed close to being passed out of the Senate. The measure, sponsored by Rep.
- Payday Loan Bill Moves to Senate
New Orleans Advocate 02 Apr 2014
A Louisiana Senate committee has dramatically altered Senate Bill 84, a proposal by Sen. Ben Nevers (D-Bogalusa) to make payday loans more affordable and limit the amount of interest that can be ...
- Architect of Postal Banking Proposal Speaks Out
American Banker 31 Mar 2014
While the U.S. Postal Service (USPS) already offers domestic money orders and global money transfers, a paper released in January proposes to greatly expand its menu of financial services to reach ...
- Payday Loan Reform Still a Possibility
Albuquerque Journal 31 Mar 2014
New Mexico legislators have proposed a constitutional amendment that would limit total charges on all short-term loans to an annual percentage rate (APR) of 36 percent.
- Lawmakers Clash Over Payday Lending Concerns
American Banker 27 Mar 2014
Lawmakers remain concerned about alternative lending products such as payday loans, but they are far from a consensus about what changes are needed.
- Congress Weighs Payday Lending Changes
Dayton Daily News 26 Mar 2014
The Ohio General Assembly passed a bill in 2008 to crack down on payday lenders in the state, but it has simply allowed those products to be replaced with auto title and installment loans, according ...
- Costly Loans Are Drawing Attention From States
New York Times 19 Mar 2014
State authorities are boosting their efforts to protect vulnerable Americans from short-term, costly loans that can have interest rates above 300 percent annually.