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Payday Lending

Zach Carter

Republicans Try To Strip Predatory Lending Protections For American Troops, Again

HuffingtonPost.com | Zach Carter | Posted 05.11.2015 | Politics

WASHINGTON -- House Republicans are again attacking measures aimed at protecting U.S. troops from predatory lending practices, two weeks after a simil...

Friday Talking Points -- Giggles the Pig For Mayor!

Chris Weigant | Posted 05.08.2015 | Politics
Chris Weigant

When it comes to the 2016 field of Republican presidential candidates, the rule of thumb this time around is obviously going to be "the more, the merrier!" The number of officially-announced Republican candidates actually doubled this week.

Texas and Other States Crack Down on Predatory Payday Lenders: What This Means for You

NextAdvisor.com | Posted 05.07.2015 | Money
NextAdvisor.com

It's no secret that the payday loan industry is rife with predatory payday lenders. Even lenders that aren't inherently predatory still often use practices which leave borrowers stuck in a seemingly endless cycle of debt. This is a big deal, considering more than 12 million people in the U.S. take advantage of payday loans every year.

Zach Carter

Republicans Already Under Fire For Voting To Block Predatory Lending Protections For Troops

HuffingtonPost.com | Zach Carter | Posted 05.04.2015 | Politics

WASHINGTON -- Last week, a host of House Republicans voted to block predatory lending protections for American soldiers. This week, the Democratic Par...

Zach Carter

Democrats Defeat GOP Plan To Block Predatory Lending Protections For Soldiers

HuffingtonPost.com | Zach Carter | Posted 04.30.2015 | Politics

WASHINGTON -- House Democrats successfully knocked down a GOP plan early Thursday morning that would have blocked predatory lending protections for Am...

Zach Carter

House Republicans Want To Block Predatory Lending Protections For American Troops

HuffingtonPost.com | Zach Carter | Posted 04.29.2015 | Politics

WASHINGTON -- House Republicans are pushing legislation to block predatory lending protections for American soldiers, under pressure from the banking ...

Payday Lending's Contrasting Cultures of Wealth and Exploitation -- and Big Data's Role

Nathan Newman | Posted 04.23.2015 | Business
Nathan Newman

Payday loans and other abusive high-interest loans targeting the working poor are one of the scourges of our financial system. And the technology of big data made it easy to both find new victims and largely hide the identities of the payday lenders.

3 Times Payday Loans Make Sense

Simple. Thrifty. Living. | Posted 04.22.2015 | Business
Simple. Thrifty. Living.

Although payday loans are a type of credit that most borrowers should avoid, there are some cases in which this type of loan is actually less costly than other alternatives.

Payday Rules Will Help Balance the Scales

Bill Bynum | Posted 03.31.2015 | Impact
Bill Bynum

Fighting predatory lenders can feel a little like taking on the 2015 Kentucky basketball team, but last week the odds for millions of underdogs across America got a lot better.

Reforming Payday Lending Practices Is One Important Way to Address Wealth Inequality

Andrea Levere | Posted 05.03.2015 | Business
Andrea Levere

The economic recovery has not benefited Americans equally. We all know that. But few facts underscore that point more clearly than the startling number of consumers whose financial futures have been put on hold by subprime credit scores.

CFPB Must Rein in Predatory Payday Lenders with Strong Regulations

NCLR Action Fund | Posted 04.13.2015 | Politics
NCLR Action Fund

Low income working families seeking to simply pay the bills confront an array of challenges these days. "Payday lenders" are taking advantage of a borrower's precarious financial state and profit from pushing low-income families deeper into debt and poverty.

Consumer Protection Agency Preps Payday Lender Crackdown

The New York Times | Posted 02.08.2015 | Politics

In the world of consumer finance, they are chameleons: payday lenders that alter their practices and shift their products ever so slightly to work aro...

Hunter Stuart

Payday Lenders Are Using The Internet To Evade State Law

HuffingtonPost.com | Hunter Stuart | Posted 01.21.2015 | Business

Borrowing from any payday lender can be a risky endeavor. Borrowing from one online can be downright perilous. The pitfalls of borrowing from sto...

Feds To Write New Rules For Payday Loans

Reuters | Posted 03.07.2015 | Business

NEW YORK, Jan 4 (Reuters) - A U.S. regulator focused on consumer protection is planning the first federal regulations ever for lenders that make sma...

Ben Walsh

Texas Is Throwing People In Jail For Failing To Pay Back Predatory Loans

HuffingtonPost.com | Ben Walsh | Posted 12.29.2014 | Business

Texas has a problem: it keeps putting people in jail for borrowing money. At least six people were jailed in the state over the past two years because they owed money on payday loans.

Payday Loans and the Rise of Vampire Capitalism

Ethan Rabidoux | Posted 02.15.2015 | Business
Ethan Rabidoux

Payday loan companies have managed to fly beneath the radar of public scrutiny for far too long. I suspect it's because their victims are the weakest among us who don't have a voice.

Credit Unions Can Help Ward Off Payday Lenders

Henry A. J. Ramos | Posted 02.07.2015 | Politics
Henry A. J. Ramos

Many consumers who can afford loans are denied the services they need and left in the hands of predatory lenders. Credit unions, as nonprofits with a commitment to their communities, are the right ones to bridge the divide.

How To Avoid The Payday Loan Debt Cycle

NextAdvisor.com | Posted 11.30.2014 | Money
NextAdvisor.com

The premise is simple: borrow the amount you need plus a fee per $100 borrowed now, pay it back when your next paycheck arrives. Unfortunately, what often ends up happening is that the borrower can't pay back the amount borrowed within 14 days.

Zach Carter

House Republicans Are Trying To Make Money Laundering A Lot Easier

HuffingtonPost.com | Zach Carter | Posted 09.19.2014 | Politics

WASHINGTON -- House Republicans are agitating to dramatically curb federal bank regulators' ability to combat money laundering, calling for changes in...

Like Payday Loans, Lawsuit Loans Increasingly Coming Under Fire

Sara Warner | Posted 10.20.2014 | Politics
Sara Warner

With civil courts underfunded and litigation increasing, even simple cases are going to take years and years to attain their day in court. And the structure of these loans become truly predatory as the cases linger.

Zach Carter

Darrell Issa's Latest Circus Has Lawmakers Shocked That DOJ Fights Fraud

HuffingtonPost.com | Zach Carter | Posted 07.15.2014 | Politics

WASHINGTON -- On Tuesday, Republicans on the House Financial Services Committee took up Rep. Darrell Issa's crusade against the Department of Justice'...

Can a Post Office Be a Bank?

John Harrington | Posted 08.11.2014 | Impact
John Harrington

Instead of privatizing the post office, there may be a better way to raise revenue for the post office by providing financial services for many who need access to credit and short-term capital.

Financial Parasites Are Still With Us, But Hopefully Not for Long

John Harrington | Posted 07.27.2014 | Business
John Harrington

Almost four years ago, I wrote about a new non-profit check cashing and payday lender that opened in the Fruitvale area of Oakland, California in the ...

Making Banking Work for Everyone

Keith Mestrich | Posted 06.18.2014 | Money
Keith Mestrich

Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.

Zach Carter

We Can't Stop Watching These Congressmen Babble About Nothing

HuffingtonPost.com | Zach Carter | Posted 04.10.2014 | Politics

WASHINGTON -- On Tuesday, the House Financial Services Committee held a three-and-a-half-hour hearing on financial fraud and consumer protection. Cong...