Payday lending

Payday loan alternative moves forward in California

07/09/19

A bill to regulate firms that give workers early access to unpaid wages passed a key committee this week, but industry groups and advocates are still seeking changes.

[more]

California on verge of capping rates on installment loans

06/27/19

The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.

[more]

As California mulls rules for payday loan alternative, rifts emerge

06/24/19

Companies that offer early access to earned wages want a regulatory framework for their fast-growing industry. But the bill under consideration in Sacramento is exposing big divisions in the sector.

[more]

'You had a great brand. Egos killed it': Comments of the week

06/13/19

Readers respond to BB&T-SunTrust's rebranding, consider the future of home equity loans, debate the number of credit unions buying up community banks and more.

[more]

CFPB delays compliance date for key part of payday lending rule

06/07/19

The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule.

[more]

Don’t sideline earned income access

06/03/19

Critics have knocked the product, which provides workers access to their wages before payday, as another form of predatory lending. But California has a new bill that would create a legal framework for this short-term lending alternative, and policymakers elsewhere should follow the state's lead.

[more]

Lenders lobby against robocall ban; HSBC continues robot roll out

05/30/19

Banks and credit unions “push back” against an FCC proposal to limit calls; Miami gets the next assistant the bank says is not intended to replace humans.

[more]

CFPB’s Kraninger digs in over halt to military lending exams

05/27/19

Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.

[more]

FDIC, payday lenders agree to settle Choke Point lawsuit

05/22/19

As part of the deal, the agency summarized its policy on account terminations and issued a letter acknowledging that some employees “acted in a manner inconsistent with FDIC policies with respect to payday lenders.”

[more]

25 attorneys general oppose CFPB's payday rule revamp

05/17/19

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

[more]