Payday lending

Senate Dems urge CFPB watchdog to investigate restitution practices

01/14/20

In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.

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Can California's mini-CFPB pick up slack left by federal agency?

01/10/20

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

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Crackdown on bank-fintech partnerships would hurt subprime borrowers

12/26/19

Some legislators and consumer groups want federal regulators to block such alliances. Here’s why that’s a bad idea.

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Supreme Court battle, presidential race loom over CFPB in 2020

12/23/19

The Consumer Financial Protection Bureau faces a busy policy agenda heading into the new year, as well as strong external forces that are beyond its control.

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There’s a ‘true lender’ fight brewing in California

12/20/19

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

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House Democrats spar over rate cap bill

12/06/19

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.

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Stern warning to lenders mulling end run around California rate caps

12/06/19

Federal and state policymakers wagged their fingers this week at high-cost lenders that might be looking to team with banks to evade a 36% ceiling on interest rates.

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There's a better way to regulate small-dollar lending

12/04/19

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.

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CFPB's final payday rule should be ready in spring, agency says

11/21/19

In an update of its rulemaking agenda, the bureau said it "expects to take final action in April 2020" on a proposal that would rescind strong underwriting requirements.

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Arizona ballot effort reframes payday lending debate

11/15/19

Over the last decade, American voters have proved remarkably receptive to bans on high-cost consumer loans. Next year, a proposed ballot measure in a traditionally red state trending purple will offer a test case for the durability of that consensus.

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