Small-dollar lending

House Democrats ask CFPB to abandon payday rule overhaul

08/23/19

House Financial Services Committee Chairwoman Maxine Waters and over a hundred other lawmakers want the agency to go forward with a mandatory underwriting requirement for payday loans.

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Consumer groups to CFPB: Implement payday rule

08/12/19

Four advocacy groups questioned why the consumer bureau did not ask a judge to lift a stay of the rule's payment provisions.

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Payday loans decline in Calif. as borrowers turn to installment products

08/08/19

New data from the state shows that payday loans fell to a 12-year low in 2018. But the trend does not necessarily mean that consumers are paying less to borrow.

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Consumer lender Oportun lays groundwork for IPO

07/18/19

In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.

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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.

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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.

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Postal banking isn’t the fix for financial inclusion

06/13/19

Despite renewed calls from Democrats looking to USPS to offer banking services, policymakers should instead consider reforms that would permit private-sector firms like Walmart and Amazon to offer a wider array of financial products.

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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.

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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.

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Agencies closer to joint polices on CRA, small-dollar loans: FDIC head

05/29/19

Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act.

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