Payday lending

CFPB takes big step toward unwinding payday lending rule

02/06/19

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.

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CFPB fines payday lender Cash Tyme for overcharging customers

02/05/19

The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.

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CFPB bans group of payday firms from lending in U.S.

02/01/19

The CFPB banned online payday lender NDG Financial, three corporate officers and nearly a dozen affiliated companies from lending to consumers in the U.S.

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FDIC's small-dollar riddle: How to entice banks, yet stay tough

01/31/19

The agency is exploring how to reopen small-dollar lending options for banks, but consumer groups are urging the agency to maintain pricing limits and other controls.

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Why the CFPB is watering down its payday lending rule

01/29/19

The Consumer Financial Protection Bureau won't require payday lenders to assess borrowers’ ability to repay. American Banker reporter Kate Berry explains why.

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CFPB fines Enova $3.2M for unauthorized account debits

01/25/19

The consumer bureau says the online lender improperly extracted millions from over 5,000 accounts without getting authorization.

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Tragedy in Florida, mortgage data breach, steel-cage match for deposits: Top stories of the week

01/25/19

A man entered a SunTrust branch in Sebring, Fla., and shot and killed five women, four of whom were bank employees; 24 million mortgage documents exposed in data security lapse; the battle for deposits is like 'a steel-cage' match; and more from this week's most-read stories.

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'The distorted lens of one's ideology': Comments of the week

01/25/19

Readers weigh in on the Consumer Financial Protection Bureau's payday rule, consider the gender wage gap in banking, debate restrictions to membership at the Federal Home Loan banks and more.

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One study, two vastly different visions for CFPB payday rules

01/23/19

When a Columbia University professor surveyed 1,000 payday loan customers, little did he know that the resulting research report would become a lightning rod in the drafting of rules for small-dollar lenders.

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Calif. regulator settles with lender accused of evading rate cap

01/22/19

The consent order against California Check Cashing Stores is part of a broader crackdown by the Department of Business Oversight on small-dollar lenders trying to skirt interest-rate limits.

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