ProPublica logo Newly Defanged, Top Customer Protection Agency Drops Research of High-Cost Lender
Lending and Collecting in the us
Payday advances represent only 1 element of a high-cost lending industry that targets low income customers, trapping numerous in deep financial obligation. Whenever regulators and lawmakers make an effort to break straight down, lenders tweak their products or services to have across the legislation.
When you look at the latest indication that the buyer Financial Protection Bureau is pulling straight right back from aggressive enforcement, it dropped a study set off by a 2013 ProPublica tale of a lender that fees triple-digit interest levels.
Jan. 23, 2018, 6:12 p.m. EST
Allow the Game of Whack-A-Mole Start: Feds Submit New Payday Rules
New rules submit by the customer Financial Protection Bureau could have an important effect on the loan industry that is high-cost. However if history is any guide, loan providers will find some loopholes quickly.
March 27, 2015, 12:07 p.m. EDT
Defense Department Proposes Broad Ban on High-Cost Loans to Service Customers
Acknowledging that a past legislation did maybe maybe perhaps not get far sufficient, Defense Department proposes new guidelines to guard solution members from high-cost loan providers.
Sept. 26, 2014, 3:05 p.m. EDT
Insta-Loophole: In Flor Despite a ban on high-interest automobile name loans, the nation’s title lender that is largest has exposed 26 Instaloan stores in Florida, providing a refashioned type of the loans that efficiently charge the exact same sky-high prices what the law states had been made to stop.Details