FOR IMMEDIATE RELEASE: October 24, 2019 “It sends a terrible signal for the FDIC and OCC to support a predatory lender that used a bank to enable a destructive 120% APR loan.” WASHINGTON, D.C. – Small business advocates, consumer groups, and civil-rights advocates today sent a letter to the Federal Deposit Insurance Corp. (FDIC) and…
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Washington, D.C. – Advocates at the National Consumer Law Center applauded news that California Governor Gavin Newsom late yesterday signed into law AB 539, a bill to stop outrageous interest rates that payday lenders in California are charging on their larger, long-term payday loans, but warned that the payday lenders are already plotting to evade…
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For Immediate Release: September 19, 2019 Contacts: National Consumer Law Center: Jan Kruse [email protected] Center for Responsible Lending: Matthew Kravitz [email protected] NCUA votes for changes to Payday Alternative Loan program; while addressing some key concerns of community groups, overall the vote is a step in the wrong direction WASHINGTON, D.C. – Today, the National Credit Union…
FOR IMMEDIATE RELEASE: June 11, 2019 Letters come after news that regulators pursuing joint small-dollar policy; Growing concern that several Administration appointees may be giving green light for predatory loans WASHINGTON, D.C. – Today, the National Consumer Law Center (NCLC) joined a coalition of national civil rights and consumer groups in writing to top banking…
FOR IMMEDIATE RELEASE: May 17, 2019 CFPB is required to consider comments on its plan, which would eliminate protections from 300% APR payday loan debt traps House Oversight and Reform subcommittee hearing held on the proposal WASHINGTON, D.C. – The National Consumer Law Center (NCLC), as part of a coalition of civil rights, consumer, and…
Read More about Broad Coalition Rebukes Trump-appointed CFPB Director’s Plan to Gut Payday Loan Rule
FOR IMMEDIATE RELEASE: APRIL 24, 2019 Court Decision Signals End of Faux Tribal Payday Lending Washington – The Second Circuit Court of Appeals in a decision today against Think Finance and the officers of Plain Green Loans has made crystal clear that online tribal payday lenders must comply with state interest rate limits, licensing laws…
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