Predatory Lender Enova Drops Bid to Become National Bank
Bank Charter Would Have Enabled 100% APR Loans in Every State
Read More about Predatory Lender Enova Drops Bid to Become National Bank
Search Results
-
-
Broad Coalition Opposes 195% APR Bank Charter for OppFi, Which Seeks to Make Payday Loans in Every State
120+ Groups Urge FDIC, OCC, and Fed To Deny OppFi’s Request to Acquire BNC Bank
-
Before Approving 100% APR Banks, Fed Must Hold Public Hearings
Unprecedented Bids Could Create the First National Banks Dedicated to Predatory Lending
Read More about Before Approving 100% APR Banks, Fed Must Hold Public Hearings
-
Trump Fintech Order Will Promote Predatory Lending, Endanger Consumer Funds
Order Could Enable Payday Lenders to Ignore State Consumer Protection Laws and Skip Guardrails to Get Bank Charters
Read More about Trump Fintech Order Will Promote Predatory Lending, Endanger Consumer Funds
-
Broad Coalition Urges Congress to Oppose Unaffordable 100%+ APR Bank Loans
Groups Urge Lawmakers to Reject Enova and OppFi’s National Bank Applications and to Support State and Federal Interest Rate Limits WASHINGTON – Today, over 100 consumer, civil rights, and community organizations sent a letter urging members of Congress to stop predatory bank loans by opposing the unprecedented national bank applications of Enova and OppFi. The…
Read More about Broad Coalition Urges Congress to Oppose Unaffordable 100%+ APR Bank Loans
-
Another 100%+ APR Bank Seeks Trump Administration Approval
OppFi’s Acquisition of BNC Bank Would Circumvent Interest Rate Limits in 45 States
Read More about Another 100%+ APR Bank Seeks Trump Administration Approval
-
Fed Urged to Reject Bank Application that Would Greenlight Enova’s 100% APR Loans Nationwide
Civil Rights and Consumer Groups Warn Approval Would Harm Communities of Color
-
Consumer Advocates Urge Regulators to End Predatory Bank-Fintech Partnerships
WASHINGTON — The Center for Responsible Lending (CRL), National Consumer Law Center (NCLC), and the Student Borrower Protection Center (SBPC) submitted comments urging bank regulators to end bank-fintech partnerships that engage in predatory lending, evade the law, and pose a high risk of unfair, deceptive, or abusive practices and violations of consumer protection laws. “Banks should…
Read More about Consumer Advocates Urge Regulators to End Predatory Bank-Fintech Partnerships
-
199% Auto Repair, Pet Loans Face Crackdown by DC, States
DC joins two states in stopping rent-a-bank loans by EasyPay Finance and TAB Bank that evade state interest rate laws WASHINGTON – Advocates applauded today’s announcement by the Office of the Attorney General (AG) of the District of Columbia that DC has forced EasyPay Finance to stop making loans up to 198.98% despite DC’s 24%…
Read More about 199% Auto Repair, Pet Loans Face Crackdown by DC, States
-
Crypto Companies, Others, Must Stop Misusing FDIC’s Name and Logo
Consumer Advocates Support Proposed Rule to Address False Advertising and Misrepresentations of Deposit Insurance Coverage WASHINGTON — New rules proposed by the Federal Deposit Insurance Corporation (FDIC) are needed to prevent crypto firms and fintech banking apps from misleading customers by representing or suggesting that these companies and accounts are insured by the FDIC, according…
Read More about Crypto Companies, Others, Must Stop Misusing FDIC’s Name and Logo
-
FDIC Should Downgrade Three Banks Engaged in Predatory “Rent-a-Bank” Lending
Utah’s Capital Community and First Electronic Banks and Kentucky’s Republic Bank & Trust accused of predatory lending, evasions of state interest rate limits WASHINGTON — A coalition of consumer advocates is urging the Federal Deposit Insurance Corporation (FDIC) to downgrade the Community Reinvestment Act (CRA) rating of three banks. Utah’s Capital Community Bank (CC Bank)…
Read More about FDIC Should Downgrade Three Banks Engaged in Predatory “Rent-a-Bank” Lending
-
FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-a-Bank’ Lending
FinWise Bank’s lending through American First Finance, Elevate, and Opportunity Financial (OppFi), offering loans at up to 160% APR, raises serious consumer protection issues.
Read More about FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-a-Bank’ Lending
