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Payday Loans

Payday Loans: The Worst Abuse Is Not Regulated

Jack M. Guttentag | Posted 04.20.2016 | Business
Jack M. Guttentag

The internet is a cost-effective way of identifying and soliciting potential clients for payday loans. Potentially, it could also be a way to regulate the worst abuse of payday lending.

New Borrow And Save Loan Programs

MoneyTips | Posted 04.12.2016 | Business
MoneyTips

You are struggling just to pay your monthly bills, not to mention dealing with the occasional car breakdown, home maintenance item, or unexpected medi...

Insurgent Democratic Candidate Ups Ante In Call For Debbie Wasserman Schultz To Resign

The Huffington Post | Michael McAuliff | Posted 04.01.2016 | Politics

WASHINGTON -- Democratic National Committee Chair Debbie Wasserman Schultz's (D-Fla.) support for payday lenders has been earning her some enemies on ...

Time for These Two Democrats to Go

Bill Moyers | Posted 03.27.2016 | Politics
Bill Moyers

There are two Democrats whose resignation from office right now would do their party and country a service.

Friday Talking Points -- The Dog That Didn't Bark at the GOP Debate

Chris Weigant | Posted 03.11.2016 | Politics
Chris Weigant

We had two Democratic debates and one Republican debate last week. The GOP one was shocking -- because nobody said anything shocking! Yes, that's truly how far the Republicans have sunk -- to the Sherlockian level of the dog not snarling in the night being the big news.

DNC Chair Debbie Wasserman Schultz Is Taking A Ton Of Heat For Helping Payday Lenders

The Huffington Post | Zach Carter | Posted 03.10.2016 | Politics

WASHINGTON -- Democratic National Committee Chair Rep. Debbie Wasserman Schultz (D-Fla.) has been working to gut new rules intended to rein in predato...

Consumers Must Be Protected and Have Access to Short-Term Credit

Rep. Alcee L. Hastings | Posted 03.07.2016 | Politics
Rep. Alcee L. Hastings

When I established my first law practice, I relied upon a short-term loan to start the firm. At the time, this was the only avenue available to me. Now, as a member of Congress, I look back and recognize how vital that funding was to jumpstarting my long career in public service.

Reverse Robin Hood: Six Billion Dollar Businesses Preying on Poor People

Bill Quigley | Posted 03.07.2016 | Business
Bill Quigley

These businesses target families with incomes below $35,000, and people of color are three times more likely to receive abusive loans than whites. People with blemished credit are often passed over when seeking jobs.

Tone-Deaf Debbie, Another Reason I Won't Vote for Hillary

Russ Belville | Posted 03.03.2016 | Politics
Russ Belville

Debbie's job is to get Democrats elected nationally in the congress and the presidency. She's also a House Democrat from Florida. Allegedly. Through her actions, you have to wonder if she's really some sort of Republican operative whose agenda is to destroy the Democratic Party.

Debbie Wasserman Schultz Shouldn't Be Welcoming Loan Sharks Into the Democratic Party

Tim Canova | Posted 03.02.2016 | Politics
Tim Canova

Why is my opponent -- Debbie Wasserman Schultz -- introducing legislation in Congress to deregulate an industry that is already profiting from ripping off millions of Americans?

DNC Chair Joins GOP Attack On Elizabeth Warren's Agency

The Huffington Post | Zach Carter | Posted 03.10.2016 | Politics

WASHINGTON -- Payday lenders have been gunning for the Consumer Financial Protection Bureau since the day President Barack Obama tapped Elizabeth Warr...

Watch This Congressman Plagiarize A Lobbyist On Payday Loans

The Huffington Post | Zach Carter | Posted 02.18.2016 | Politics

WASHINGTON -- Good lawmakers borrow, great lawmakers steal. Rep. David Scott (D-Ga.) is a great lawmaker. At a House Financial Services Committee hear...

Hillary Wasn't 'Offered' Those Speaking Fees. She Demanded Them

Les Leopold | Posted 02.08.2016 | Politics
Les Leopold

Hillary is veering from the truth when she suggests her $225,000 per speech fee, paid three times by Goldman Sachs, was "what they offered." It was not what they offered -- it was what Team Hillary demanded.

Why 'Pulling Yourself Up By Your Bootstraps' Is A Total Fantasy

The Huffington Post | Kim Bellware | Posted 01.27.2016 | Politics

In the nearly seven years since the end of the Great Recession, the U.S. economy has rebounded on the macro level. But for a huge number of people, th...

Citizens Deliver 150K Petitions Demanding Postal Banking

Dave Johnson | Posted 12.18.2015 | Business
Dave Johnson

We can continue to have a rigged system that enables and encourages predators to take advantage of the public, or we can offer public options that protect and provide services for the public.

Here's The Dodgy Payday Lender Behind That 'Grassroots' White House Petition

The Huffington Post | Zach Carter | Posted 11.19.2015 | Politics

WASHINGTON -- Every good idea in American politics eventually becomes a vehicle for corporate lobbying. When the Obama administration unveiled its "We...

For America's Unbanked: Re-establishing the Postal Savings Bank

Ralph Nader | Posted 11.13.2015 | Politics
Ralph Nader

Tens of millions of Americans do not have a bank account. As a result, many of these Americans spend a reported $89 billion annually in interest and fees by using predatory services such as payday loan and check cashing services.

Payday Lenders Hoping for a Grand Old Party in 2016

Karl Frisch | Posted 11.12.2015 | Politics
Karl Frisch

Payday lenders spent more than $15 million during the last election to lobby and elect Members of Congress. If the CFPB comes down hard on the industry with tough new rules as is expected, you can bet they will spend even more during this election.

How Bernie Sanders Plans to Transform the Postal Service and Help Millions in Poverty

Michael Sainato | Posted 11.03.2015 | Politics
Michael Sainato

Millions of low-income Americans depend on check cashing institutions, pawn shops, and payday loans to fulfill much of their banking needs. These places are notorious for ripping people off and serves as one of the countless barriers that keep poor people impoverished.

Payday Loan Industry Admits 'Very Few' Borrowers Repay Their Loans

The Huffington Post | Ben Walsh | Posted 11.02.2015 | Politics

Payday lenders make money by giving people loans they can’t pay back. That fact has been apparent for years. A 2009 study from the Center for Respo...

Pro-Payday Loan Study Paid For And Edited By The Payday Loan Industry

The Huffington Post | Ben Walsh | Posted 11.02.2015 | Politics

The payday loan industry was involved in almost every aspect of a pro-industry academic study, according to emails and other documents reviewed by The...

False Choice and the Unfortunate Reality of Payday Lending

Yee Lee | Posted 10.20.2015 | Technology
Yee Lee

In the latest consumer complaints snapshot, a monthly report detailing consumer sentiments across all credit products, the CFPB observed a 12 percent decrease in the number of payday lending complaints.

Don't Put Privatizer and Payday Lender Lobbyist on the USPS Board

Dave Johnson | Posted 10.05.2015 | Business
Dave Johnson

At a time when people are proposing that the USPS reinstate public banking -- a service that would help millions of Americans -- Barnett is clearly the wrong choice for the USPS Board.

How to Protect the Working Poor From 300 Percent Interest Rates

Louis Hyman | Posted 10.02.2015 | Business
Louis Hyman

The payday loan is not, as GOP presidential candidate Ben Carson recently wrote, a "short-term loan secured by their next paycheck with an interest rate around 15 percent." Payday loans, which few borrowers pay off the following week, actually end up with interest rates above 300 percent.

House Democrats Joining GOP Attack On Elizabeth Warren's Agency

The Huffington Post | Zach Carter | Posted 10.01.2015 | Politics

UPDATE: After pressure from Rep. Maxine Waters (D-Calif.), Sen. Elizabeth Warren (D-Mass.) and former House Financial Services Committee Chairman Barn...