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Payday Loans

Ben Walsh

Consumer Financial Protection Bureau Proposes New Payday Lending Rules

HuffingtonPost.com | Ben Walsh | Posted 03.26.2015 | Business

The Consumer Finance Protection Bureau will consider new rules covering payday loans, agency head Richard Cordray said Thursday in a statement. The pr...

Paul Blumenthal

Online Payday Lender Pumped Dark Money Into Effort To Beat Back Regulation

HuffingtonPost.com | Paul Blumenthal | Posted 03.17.2015 | Politics

WASHINGTON -- Facing the prospect of imminent oversight by a newly created government regulator, the much-reviled payday loan industry’s lobbying ma...

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

Andrea Levere | Posted 03.03.2015 | 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.

FTC Goes After Debt Relief Companies Who Deal With Payday Loans

Steve Rhode | Posted 02.20.2015 | Money
Steve Rhode

On February 18, 2015 the Federal Trade Commission filed suit against PSC Administrative, Coastal Acquisitions, Infinity Client Solutions, Infinity Col...

CFPB Must Rein in Predatory Payday Lenders with Strong Regulations

NCLR Action Fund | Posted 02.11.2015 | 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.

Dave Jamieson

How The Post Office Could Take On The Payday Loan Industry

HuffingtonPost.com | Dave Jamieson | Posted 02.11.2015 | Business

A union head says that postal banking -- when post offices also offer simple banking services like checking and savings accounts -- is "an idea that should be reborn and whose time has come."

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.

Neighbors Helping Neighbors?

Jim Gibson | Posted 02.18.2015 | Education
Jim Gibson

Well, here is a tale of the exact opposite. Although it is not clear that this was setup to be in place right before the Christmas Holiday, that is how the timing seemed to work out.

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.

Faith Leaders Join The Fight For Lower Payday Loan Rates

Religion News Service | Adelle M. Banks | Posted 11.30.2014 | Religion

WASHINGTON (RNS) Dozens of faith leaders and consumer advocates are pressing Congress to create a national interest rate cap for payday lenders instea...

A Fox in the Henhouse at the Consumer Financial Protection Bureau

Liz Ryan Murray | Posted 12.30.2014 | Money
Liz Ryan Murray

Earlier this summer, CFPB Director Richard Cordray named Patrick O'Shaughnessy, the CEO of Advance America, one of the largest payday lending chains in the country, to an Advisory Board position at the CFPB.

Do The Hustle: Payday Lenders and Their Victims Dancing To Lose

Lillian D. Singh | Posted 12.15.2014 | Impact
Lillian D. Singh

Academics and industry spokespersons quibble over whether the payday customer base is really middle class or simply the working poor. Such pedantic squabbling misses the big picture. More and more families are living on the edge.

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.

Is This Email I Got About an Old Debt for Real?

Steve Rhode | Posted 11.22.2014 | Money
Steve Rhode

Huffington Post Reader Question Dear Steve, Out of the blue I received the attached e-mail. Now I know from reading the Fair Credit Act, that this m...

Secret Network Connects Harvard Money To Predatory Loan Websites

Bloomberg News | Zeke Faux | Posted 09.04.2014 | Business

Alex Slusky was under pressure to put the money in his private-equity fund to work. The San Francisco technology financier had raised $1.2 billion in ...

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...

Payday Lenders - The Sharks We Can Live Without

Jim Lardner | Posted 10.22.2014 | Business
Jim Lardner

The sharks we have in mind, meaning no disrespect to the cartaliginous fish of the same name, are people like W. Allen Jones, CEO of Check Into Cash, a Tennessee-based company that operates an estimated 1,100 payday loan and check cashing shops in 29 states.

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.

Jesus Drove Usurers From The Temple. We Allow 500-percent Interest Payday Loans. Where Are The Christians?

Ian Reifowitz | Posted 08.13.2014 | Politics
Ian Reifowitz

First, let's start with the good (if you can really call it that) news: A trail of money that began with triple-digit loans to troubled New Yo...

5 Ways To Protect Yourself From Payday Loan Scams

NextAdvisor.com | Posted 10.12.2014 | Money
NextAdvisor.com

Need cash fast? You aren't alone. Many people find themselves in a bind with payday looming far ahead. Payday loan services offer the cash you need right away. However, it is important not to let the allure of fast money get in the way of your common sense.

New York Cracks Down On Payday Lenders

Reuters | Posted 10.12.2014 | Business

Aug 11 (Reuters) - Manhattan prosecutors filed criminal charges against a dozen companies and their owner, Carey Vaughn Brown, accusing them of maki...

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.