iOS app Android app

Payday Loans

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...

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 ...

House Launches Attack on Servicemember Lending Protections

Ed Mierzwinski | Posted 04.30.2015 | Politics
Ed Mierzwinski

Only in Washington would some politicians even consider a calculus that places the demands of special interests above the compelling needs of both the nation's military preparedness and the well-being of the nation's defenders themselves.

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.

New Proposals to Rein in Payday Loans Show Why Unscrupulous Corporations Want You to Hate Government

Ian Reifowitz | Posted 05.31.2015 | Politics
Ian Reifowitz

Reining in the payday loan industry has been in the works over at the CFPB for a while now, and it's not a moment too soon. Why isn't there national regulation? Although some people are willing to do so, liberals believe that our country cannot permit such behavior.

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 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.

FTC Goes After Debt Relief Companies Who Deal With Payday Loans

Steve Rhode | Posted 04.22.2015 | 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 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.

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.