Payday Lending News
The latest news on payday loans and the payday lending industry from the Center for Responsible Lending.
- Supporters Seek New Angle to Limit Payday Lending
Daily Comet (La.) 15 Apr 2014
Advocates of payday lending regulation are looking to another strategy now that Louisiana lawmakers have squashed efforts to cap the loans' annual interest rates. A bill by Sen.
- States Splitting With Feds on 'Operation Choke Point'
American Banker 15 Apr 2014
State regulators are pushing back against the federal crackdown on Web-based payday operations. Banks are worried that pressure from federal banking regulators and the Department of Justice, which ...
- Bellaire Law's Focus: Payday Lenders
Houston Chronicle 08 Apr 2014
Bellaire has become the most recent Texas city to regulate payday lending in response inaction by state lawmakers on the issue.
- 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 ...