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Payday Loans

Bipartisan Coalition in a Deep Red State Takes on Financial Industry and Wins

Sarah Anderson | Posted 11.23.2016 | Politics
Sarah Anderson

A couple years ago, two South Dakota men on opposite ends of the political spectrum got into a nasty fight over marriage equality. But after one offer...

Hundreds Of Suspiciously Similar Letters Praise The Payday Loan Industry

The Huffington Post | Ben Walsh | Posted 09.26.2016 | Politics

Happy payday loan customers are all alike, it seems. Hundreds of individually submitted comments to a federal regulator praising the payday loan indu...

Don't Be Fooled: Payday Lenders Do Target Communities of Color

National Council of La Raza | Posted 08.12.2016 | Latino Voices
National Council of La Raza

By Marisabel Torres, Senior Policy Analyst, Wealth-Building Policy Project, NCLR In response to Javier Palomarez's article "Alternative Lenders Offer...

Alternative Lenders Offer Opportunity For Consumers and Businesses Alike

Javier Palomarez | Posted 08.05.2016 | Business
Javier Palomarez

The Consumer Financial Protection Bureau's (CFPB) proposed rule on short term credit unveiled last month has spurred much debate. While the Bureau says it wants to protect consumers, I'm concerned that the rule will have the exact opposite impact, eliminating credit for millions of Americans and making many worse off. What's more, minority communities who are unbanked or underbanked will be disproportionally impacted.

NCLR Action Fund Calls For Stronger Anti-Payday Regulations

NCLR Action Fund | Posted 07.21.2016 | Latino Voices
NCLR Action Fund

We know that payday lenders are predatory, disproportionately choosing to set up shop in communities of color. We know that Latinos are more likely than the general population to use a payday loan.

Strong Rules on Payday Lending Could Help Small Businesses

Amanda Ballantyne | Posted 07.14.2016 | Business
Amanda Ballantyne

In this time of partisan gridlock, it's rare to see a federal policy move than can be of real help to small businesses and their customers. The rule r...

The Banking Fight We Can Win Right Now

George Goehl | Posted 07.08.2016 | Politics
George Goehl

There's a big banking fight in front of us right now. It's a fight that could result in a huge win for families and a death knell for the predatory practices of an entire industry -- payday lending.

New Payday-Loan Rules Won’t Stop Predatory Lenders

The Intercept | Andrew Hart | Posted 06.02.2016 | Politics

A borrower taking out a $500 loan could still pay over 300 percent in annual interest, despite new rules designed to crack down on predatory small-dol...

The Obama Administration Cracks Down On Payday Lenders

The Huffington Post | Ben Walsh | Posted 06.02.2016 | Business

For the first time, there will soon be broad rules protecting U.S. borrowers from being stuck in a spiral of debt from loans that typically have rates...

How LendUp is working to dismantle Payday Lending

Jotaka L. Eaddy | Posted 05.23.2016 | Technology
Jotaka L. Eaddy

A few months ago, I decided to join LendUp, a Silicon Valley-based financial technology company, as its Head of Government Affairs. As a long-time pr...

A Predatory Lender's Empty Threats

Jason Salzman | Posted 05.17.2016 | Denver
Jason Salzman

If you followed the debate over a bill allowing a predatory lender to charge millions of dollars more in high interest rates, you know that the key qu...

Google Won't Do Business With Predatory Lenders Anymore

The Huffington Post | Shane Ferro | Posted 05.12.2016 | Business

Ads for payday lenders will no longer appear in Google search results, thanks to an update to Google's AdWords policy that the company announced Wedne...

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

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 05.17.2016 | 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 02.08.2017 | 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.