News Topic: Payday lending

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter. ... Read full article

The state follows Colorado’s lead in adopting reforms pushed by the Pew Charitable Trusts. ... Read full article

Kathy Kraninger, a senior official at the Office of Management and Budget, largely avoided answering direct questions at her nomination hearing. ... Read full article

The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way. ... Read full article

The bureau determined that Triton Management Group had unfairly charged Mississippi consumers excess interest in violation of state law. ... Read full article

The nominee to run the consumer bureau endured tough questioning over the administration’s family-separation policy but appeared to weather the barrage. ... Read full article

Paul Watkins served as chief counsel for the Arizona AG's 150-person civil litigation division and also headed up the office's fintech initiatives. ... Read full article

The CFPB said National Credit Adjusters had hired third-party collectors that routinely inflated the amounts that customers owed. ... Read full article

A law designed to minimize the drawbacks of short-term loans and other alternative financial products may have helped legitimize them. ... Read full article

Republican lawmakers and consumer groups have reached an agreement on legislation designed to close a loophole in the state's interest rate cap. ... Read full article

A decades-old Fed charter could help banks develop new cooperatives to combat economic inequality. ... Read full article

Joel Tucker is the brother of Scott Tucker, who in January was sentenced to 16 years in prison for perpetrating an unrelated payday-loan scheme. ... Read full article

The Office of the Comptroller of the Currency’s bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending. ... Read full article

Two Native American tribes agreed to forfeit $3 million in money they took in for acting as fronts for a scam run by Scott Tucker, the former race-car driver convicted of operating an illegal payday loan business. ... Read full article

Jan Lynn Owen works at the epicenter of the digital revolution, but she is unambiguously cautious about the fintech industry. ... Read full article

The trend may be partially attributable to a strong economy. Growth in high-cost installment lending could also be a factor. ... Read full article

New legislation to offer banking services at post offices comes with some flawed assumptions, but payday lending needs an overhaul. ... Read full article

Wells Fargo on the receiving end of USAA's long-standing intellectual property threat; millions are mad about Erica, Bank of America's virtual assistant; relief may be in reach for bankers fed up with SARs; and more from this week's ... Read full article