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Payday Lending

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...

Like Payday Loans, Lawsuit Loans Increasingly Coming Under Fire

Sara Warner | Posted 08.20.2014 | 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.

Zach Carter

Darrell Issa's Latest Circus Has Lawmakers Shocked That DOJ Fights Fraud

HuffingtonPost.com | Zach Carter | Posted 07.15.2014 | Politics

WASHINGTON -- On Tuesday, Republicans on the House Financial Services Committee took up Rep. Darrell Issa's crusade against the Department of Justice'...

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.

Financial Parasites Are Still With Us, But Hopefully Not for Long

John Harrington | Posted 07.27.2014 | Business
John Harrington

Almost four years ago, I wrote about a new non-profit check cashing and payday lender that opened in the Fruitvale area of Oakland, California in the ...

Making Banking Work for Everyone

Keith Mestrich | Posted 06.18.2014 | Money
Keith Mestrich

Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.

Zach Carter

We Can't Stop Watching These Congressmen Babble About Nothing

HuffingtonPost.com | Zach Carter | Posted 04.10.2014 | Politics

WASHINGTON -- On Tuesday, the House Financial Services Committee held a three-and-a-half-hour hearing on financial fraud and consumer protection. Cong...

Zach Carter

What Do Chase Bank, Condoms, The Tea Party, And Petty Fraud Have In Common?

HuffingtonPost.com | Zach Carter | Posted 03.31.2014 | Politics

In mid-March, a division of JPMorgan Chase rejected an application to process payments for the fledgling New York City condom company Lovability, citi...

A Fresh Reminder To Never, Ever Take Out A Payday Loan

The Huffington Post | Ben Hallman | Posted 03.27.2014 | Business

There's never been much question as to whether taking out a payday loan is a sound financial decision. The short-term loans come with extremely high i...

How to Turn the Payday Lending Anchor Into a Lifeline

Debbie Matz | Posted 03.08.2014 | Business
Debbie Matz

To see a television advertisement for a business offering payday loans is to see payday loans advertised as a lifeline: a way for a financially strapped family to cover an unexpected expense. But that's not actually how most payday loans are used.

Six Federal Agencies Are Investigating Online Payday Lenders

The Center for Public Integrity | Posted 10.08.2013 | Business
The Center for Public Integrity

The Justice Department and the Consumer Financial Protection Bureau have sent civil subpoenas to dozens of financial companies, including the online lenders, many of which are located on Indian reservations to avoid complying with consumer protection laws.

Why My Late Bookmaker Father Would Not Like Payday Lending

Don McNay | Posted 09.27.2013 | Business
Don McNay

My father was a bookie and professional gambler who worked in several of the area's "hot spots." In a town full of hustlers, prostitutes and gamblers, the profession they looked down on was loan sharking.

Stepping up the Pressure on Payday Lending

Karen Hinton | Posted 09.21.2013 | Business
Karen Hinton

We should applaud the new resolve of the CFPB, other federal agencies and state legislatures to thwart these abusive practices. But we cannot become complacent.

Solving Poverty: Fighting Blight and Poverty with Credit Scores

John Hope Bryant | Posted 07.17.2013 | Impact
John Hope Bryant

In the 50 years since the civil rights movement and Dr. King's dream, one problem (racism) has been replaced or at least matched by another -- poverty. Urban poverty, rural poverty, and poverty that hits blacks, whites, browns and others alike.

Soldiers Defeated by Debt

Posted 05.15.2013 | Business

by Paul Kiel, ProPublica, and Mitchell Hartman, Marketplace, May 15, 2013, 5:50 a.m.This story was co-produced with Marketplace. Listen to their cover...

The Sketchy Business That's Costing The Economy $1 Billion

CNBC | Mark Koba | Posted 05.05.2013 | Business

CNBC: Payday loans cost the U.S. economy nearly $1 billion and thousands of jobs in 2011, according to a report from the Insight Center for Communi...

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.