Payday lending

Payback: Dems give CFPB's Mulvaney the Cordray treatment

02/13/18

The acting director of the Consumer Financial Protection Bureau on Tuesday had his first taste of the tough congressional criticism endured by his predecessor on trips to Capitol Hill.

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Mulvaney can’t just kill CFPB payday rule, but here’s what he can do

02/08/18

Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry.

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How the payday lending industry shapes academic research

02/05/18

A Georgia Supreme Court case sheds light on the lengths that the often assailed industry has gone to shape policy outcomes. It also raises the question of whether, in evaluating industry-funded research, it is enough to assess the published study itself, or if it is necessary to dig deeper.

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States mull loosening of laws in response to CFPB payday rule

02/01/18

Lobbyists for the payday loan industry are getting a warmer reception in state capitals in 2018 than they did last year. One of their key arguments is that the federal crackdown on payday loans, which is now on hold, requires a response from the states.

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Warren, Waters ask Mulvaney about CFPB change of heart on payday

01/31/18

Top Democrats in the House and Senate sent a letter to Mick Mulvaney on Wednesday questioning his decision to delay the implementation of the Consumer Financial Protection Bureau’s payday loan rule.

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Warren's Mulvaney shot, B of A blowback and (more) CFPB: Top stories of the week

01/26/18

Elizabeth Warren takes acting CFPB director Mick Mulvaney to task over his decision on data collecting; B of A gets heat from harrassment reveal and free checking halt; and more.

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CFPB drops probe into lender that gave to Mulvaney’s campaigns

01/23/18

The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.

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CFPB signals shift by dropping payday lender lawsuit

01/18/18

The agency had accused the lenders of deceiving consumers and failing to disclose the true cost of the loans, which carried interest rates as high as 950% a year.

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Not so fast: CFPB effort to reopen payday rule faces hurdles

01/17/18

The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.

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Citi’s $22 billion tax hit; CFPB to revisit payday lending rule

01/17/18

Write-down clears the decks for better times ahead; the agency’s acting head is looking to revamp strict rule that went into effect on Tuesday.

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