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Payday Lending

Commercial Disputes May Be Subject to Tribal Courts

Brad Reid | Posted 06.30.2013 | Business
Brad Reid

When a tribally chartered corporation is involved and the activity in question is physically conduced on tribal land, the tribal court's jurisdiction is especially strong.

Dimon Is Forever

Christopher Brauchli | Posted 05.30.2013 | Politics
Christopher Brauchli

JP Morgan Chase did a good thing and everyone should applaud. Its good thing was noted at the same time its bad things were making news. A good thing too. The good thing came within days of Senate hearings that would have caused all but Jamie Dimon to think there was little good to be said for the institution.

Chicago Bank Borrowed Big Time From Feds

Reuters | Posted 05.30.2013 | Chicago

NEW YORK, March 29 (Reuters) - Republic Bank of Chicago and Danversbank were among the largest borrowers from the U.S. Federal Reserve's emergency l...

Mark Gongloff

Big Banks Charging 300 Percent Interest

HuffingtonPost.com | Mark Gongloff | Posted 03.22.2013 | Business

Step aside, Tony Soprano: Big banks will now lend money at 300 percent interest without threatening to break a leg. Then again, the payday loans so...

Tax Relief Scams: Where Crime Does Pay

Don McNay | Posted 04.08.2013 | Business
Don McNay

I saw a "pat on the back" news release from the Federal Trade Commission today: "FTC Settlement: Tax Relief Scammers Agree to Pay More Than $15 Million." If you go down a couple of sentences, it notes that the scheme bilked consumers out of $100 million. Crime does pay.

Payday lenders agree to stop 'deceptive and illegal' practices

The Center for Public Integrity | Posted 03.06.2013 | Business
The Center for Public Integrity

By David HeathThe Center for Public IntegrityControversial lenders that claim to be owned by Indian tribes and offer payday loans over the Internet ...

6 Loans You Can Actually Get & How to Use Them

Credit.com | Posted 03.06.2013 | Money
Credit.com

By Mitchell D. Weiss There are lots of cash-strapped consumers out there who, for all practical purposes, are closed out of many traditional credit p...

Catherine New

Debt Collection Rules Fall Short For Consumers

HuffingtonPost.com | Catherine New | Posted 10.24.2012 | Money

For the first time, a single federal government agency will oversee the debt collection industry starting next year, marking a monumental victory for ...

New Name for Payday Won't Fix It

Ellen Schloemer | Posted 10.29.2012 | Money
Ellen Schloemer

Payday lenders know their name is mud. That's why they've started calling themselves "nonbank lenders" -- nixing any mention of "payday," in hopes a name change will help shed their loan-shark image.

Catherine New

More Small Banks, Credit Unions To Offer Payday Lending, Survey Finds

HuffingtonPost.com | Catherine New | Posted 06.26.2012 | Money

Payday loans are continuing to grow in popularity at small banks and credit unions, according to a recent survey from the financial data company RateW...

Catherine New

FDIC Says It Will Investigate Payday Loans Made By Banks

HuffingtonPost.com | Catherine New | Posted 06.02.2012 | Money

Federal regulators are launching an investigation into a shadowy practice that banks don't like to advertise: inhouse payday loans. These high-interes...

This City's Not Letting Any More Payday Lenders Set Up Shop

The Huffington Post | Catherine New | Posted 05.18.2012 | Money

Not all residents of the wealthy Silicon Valley are flush with cash. Turns out payday lending -- a type of short-term, high-interest loan that can...

Payday Lenders Know You Gotta Spend Money To Make Money

The Huffington Post | Alexander Eichler | Posted 04.20.2012 | Business

Consumer advocates in Washington have pledged to battle payday lenders, the quick-cash loan shops that often charge ruinously high interest rates to p...

This Sneaky Trick Doesn't Work Anymore For Payday Lenders

The Huffington Post | Alexander Eichler | Posted 04.24.2012 | Business

Lately, payday lenders have been linking up with Native American tribes as a way to sidestep U.S. law. Federal authorities seem less and less willi...

Ohio Republican Runs For Senate -- With Money From Bahamas Payday Lenders

The Huffington Post | Luke Johnson | Posted 03.14.2012 | Politics

Josh Mandel, the Ohio Treasurer who is challenging Sen. Sherrod Brown (D-Ohio), traveled to the Bahamas last Friday to give a speech to payday lenders...

Getting Rich In Supposedly Illegal Businesses

Don McNay | Posted 04.22.2012 | Business
Don McNay

As a society, it would seem logical that we would want drug pushing, loan sharking and corporate influence peddling to stop. At the very least, we could go back to making it against the law.

Alabama's Largest City Looks For Alternatives To Payday Lenders

The Huffington Post | Alexander Eichler | Posted 02.10.2012 | Business

The biggest city in Alabama is putting its payday lenders on notice. Bankers and community leaders in Birmingham, Alabama met Thursday to discuss d...

Alexander Eichler

Almost Half Of U.S. Households Live One Crisis From Poverty, Study Says

HuffingtonPost.com | Alexander Eichler | Posted 01.31.2012 | Business

What does it mean to be poor? If it means living at or below the poverty line, then 15 percent of Americans -- some 46 million people -- qualify. B...

Ben Hallman

New Consumer Cop Picks First Fight With Big Banks

HuffingtonPost.com | Ben Hallman | Posted 01.20.2012 | Business

Picking his first public fight with the banking industry, Washington's top consumer cop, Richard Cordray, promised on Thursday that his examiners will...

Brian Moynihan Should Cut Ties With Payday Lenders

George Goehl | Posted 02.07.2012 | Business
George Goehl

If any bank represents the need to have a regulator in place that protects people on consumer financial issues, it's Bank of America. America's bank has become a symbol for all that is wrong with the financial sector.

Catherine New

A Scarlett Letter On Economic Life

HuffingtonPost.com | Catherine New | Posted 12.08.2011 | Business

Thanks to a new kind of credit score, more borrowed money may end up in the hands of the increasing number of Americans who are sliding down the econo...

Chris Kirkham

In Rick Perry's Texas, A Safe Haven For High-Interest Payday Lenders

HuffingtonPost.com | Chris Kirkham | Posted 11.18.2011 | Business

In his three months in the national spotlight, Texas Gov. Rick Perry has presented himself as a champion of government deregulation, an advocate of pa...

Banks Increasingly Use Payday Loans Despite Crackdown On Predatory Lending

The Huffington Post | Alexander Eichler | Posted 09.21.2011 | Business

Two years after the recession officially ended and one year after the creation of a landmark financial law meant to prevent another financial crisis, ...

Albany Considering Handing Check Cashers Blank Check for Predatory Lending

Jonathan B. Mintz | Posted 09.17.2011 | New York
Jonathan B. Mintz

A very dangerous bill has made alarming progress in Albany the last few legislative sessions and I fear more of the same in the next session.

Legalized Loan-Sharking: Is It Coming to New York?

Amy Traub | Posted 07.26.2011 | New York
Amy Traub

Payday lending has been denounced as "a scourge on vulnerable citizens" and condemned as "modern day usury." So why do some state legislators want to introduce these predatory financial products to NY?