BankThink

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.

The new features use automatic transfers to encourage account holders to build savings faster and with less effort.

In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that do so.

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions.