Payday & Installment Loans Archives

CFPB Urged to Reverse Earned Wage Actions that Threaten to Create Dangerous Fintech Payday Loan Loopholes

October 12, 2021

October 12, 2021 Opinion and Order Under Former Director Kraninger Promote Evasions of Credit, Fair Lending, and Payday Loan Laws WASHINGTON – A coalition of 96 consumer, labor, civil rights, legal services, faith, community and financial organizations and academics is urging the Consumer Financial Protection Bureau (CFPB) to revoke or significantly revise two actions taken…

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

July 29, 2021

FOR IMMEDIATE RELEASE: July 29, 2021 Washington, D.C. – Attorneys at the National Consumer Law Center praised the introduction yesterday of the Veterans and Consumers Fair Credit Act in the U.S. Senate, led by U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), and Chris Van Hollen (D-MD), along with seven other original…

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

May 27, 2021

For Immediate Release: May 27, 2021 NCLC’s Review of State Consumer Protection Laws for a $2,000 Two-Year Installment Loan and $500 Six-Month Loan View the full report, with maps for the District of Columbia and each state’s APRs for two types of installment loans, tables outlining changes since the 2020 report, and a complete list…

Advocates Applaud Senate Repeal of National Banking Regulator’s Predatory Lending Rule; Urge the House to Act Soon

May 11, 2021

FOR IMMEDIATE RELEASE: May 11, 2021 Washington, D.C. – In a 52 – 47 vote tonight, the U.S. Senate voted to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a bank’s name on the paperwork. S.J. Res. 15, a resolution under the Congressional Review Act (CRA),…

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

May 5, 2021

For Immediate Release: May 5, 2021 Washington, DC – Advocates welcomed reports that Treasury Secretary Janet Yellen plans to appoint a new acting head of the Office of the Comptroller of the Currency (OCC), replacing Blake Paulson, in light of the highly deceptive and false claims that the agency, under Paulson’s leadership, put forward as…

Credit Union Regulator Must Not Facilitate Predatory Lending, Groups Say in Comment Letter

May 3, 2021

FOR IMMEDIATE RELEASE: May 3, 2021 WASHINGTON, D.C. – Credit unions and advocates registered their strong opposition to a proposal by the National Credit Union Administration (NCUA) that would allow credit union subsidiaries to engage in predatory lending that is explicitly illegal for federal credit unions. The proposal by NCUA, which regulates credit unions across…

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CFPB Urged to Reverse Earned Wage Actions that Threaten to Create Dangerous Fintech Payday Loan Loopholes

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

Advocates Applaud Senate Repeal of National Banking Regulator’s Predatory Lending Rule; Urge the House to Act Soon

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

Credit Union Regulator Must Not Facilitate Predatory Lending, Groups Say in Comment Letter

Support NCLC

All

CFPB Urged to Reverse Earned Wage Actions that Threaten to Create Dangerous Fintech Payday Loan Loopholes

​NCLC ​Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

Advocates Applaud Senate Repeal of National Banking Regulator’s Predatory Lending Rule; Urge the House to Act Soon

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

Credit Union Regulator Must Not Facilitate Predatory Lending, Groups Say in Comment Letter

Support NCLC

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation