Posted at 17:12h
ProPublica logo Newly Defanged, Top Customer Protection Agency Drops Research of High-Cost Lender
in 24 7 Payday Loans
Lending and Collecting in the us
Pay day loans represent only 1 element of a high-cost financing industry that targets low income customers, trapping numerous in deep financial obligation. Whenever regulators and lawmakers make an effort to break straight straight down, lenders tweak their products or services getting all over legislation.
When you look at the latest indication that the customer Financial Protection Bureau is pulling right back from aggressive enforcement, it dropped a study brought about by a 2013 ProPublica story of a lender that charges triple-digit rates of interest.
Jan. 23, 2018, 6:12 p.m. EST
Let The Game of Whack-A-Mole Start: Feds Put Forward Brand Brand New Payday Rules
New rules submit by the customer Financial Protection Bureau could have a major affect the high-cost loan industry. However, if history is any guide, loan providers will find some loopholes quickly.
March 27, 2015, 12:07 p.m. EDT
Defense Department Proposes Broad Ban on High-Cost Loans to Service Customers
Acknowledging that the law that is previous maybe perhaps perhaps not go far sufficient, Defense Department proposes brand new rules to guard solution people from high-cost loan providers.