ProPublica logo Newly Defanged, Top Customer Protection Agency Drops Research of High-Cost Lender
Lending and Collecting in the us
Pay day loans represent only 1 element of a high-cost lending industry that targets lower income customers, trapping numerous in deep financial obligation. Whenever regulators and lawmakers attempt to break straight down, lenders tweak their products or services to obtain round the 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 tale in regards to a loan provider that fees triple-digit rates of interest.
Jan. 23, 2018, 6:12 p.m. EST
Allow the Game of Whack-A-Mole Start: Feds Submit Brand New Payday Rules
New rules put forward because of the Consumer Financial Protection Bureau will have an important effect on the high-cost loan industry. However if history is any guide, loan providers will quickly find some loopholes.
March 27, 2015, 12:07 p.m. EDT
Defense Department Proposes Broad Ban on High-Cost Loans to Service Customers
Acknowledging that the past legislation did perhaps maybe not go far enough, Defense Department proposes brand brand new guidelines to safeguard solution users from high-cost loan providers.
Sept. 26, 2014, 3:05 p.m. EDT
Insta-Loophole: In Flor Despite a ban on high-interest automobile name loans, the nation’s largest title loan provider has exposed 26 Instaloan shops in Florida, providing a refashioned form of the loans that effortlessly charge similar sky-high prices what the law states was made to stop.
25, 2014, 9 a. M july. EDT
To guard Provider Customers, Defense Department Plans Broad Ban on High-Cost Loans
Acknowledging that the past legislation did maybe perhaps not get far sufficient, Defense Department stated it must expand guidelines to guard solution users from high-cost lenders.
4, 2014, 3:17 p.m. EDT june
High-Cost Lender World Finance Target of Federal Probe
The research follows a ProPublica story that detailed the company’s lending practices.
March 13, 2014, 3:52 p.m. EDT
Podcast: what sort of $1,000 Loan Ballooned right into a $40,000 financial obligation
Dec. 17, 2013, 1:08 p.m. EST
Whenever Lenders Sue, Quick Money Are Able To Turn Into a very long time of Financial Obligation
High-cost loan providers exploit legislation tipped within their opt to sue thousands of People in america each year. The end result: A $1,000 loan grows to $40,000.
Dec. 13, 2013, 11:46 a.m. EST
To Dodge Law, High-Cost Lender Offers Money free of charge
TitleMax, one of many quickest growing high-cost loan providers in the united kingdom, has discovered a way that is clever laws and regulations passed by a number of Texas towns and towns and cities: provide a short loan at zero interest.
Sept. 3, 2013, 2:09 p.m. EDT
How One State Succeeded in Restricting Payday Advances
Washington State passed a loan that is payday bill that just limits the sheer number of loans an individual can ingest a year. Here’s exactly exactly what took place.
Aug. 6, 2013, 9 a.m. EDT
Whack-a-Mole: Just Just Exactly How Payday Lenders Bounce When States Crack Down
In state after declare that has attempted to ban payday and comparable loans, the industry has discovered how to continue steadily to peddle them.
Aug. 6, 2013, 9 a.m. EDT
The Payday Playbook: Just Exactly Just How High Price Lenders Fight to Remain Legal
This past year, activists in Missouri attempted to restrict what lenders that are high-cost charge. The fight that is ensuing something which rarely has view therefore vividly: the high-cost lending industry’s ferocious efforts to keep appropriate and remain in operation.
Aug. 2, 2013, 9 a.m. EDT
Senator Presses Customer Bureau on Installment Lender World Finance
Citing our research, Sen. Ron Wyden asked a high official from the buyer Protection Financial Bureau in what can be carried out to handle abuses by installment loan providers.
July 25, 2013, 9:59 a.m. EDT
On Victory Drive, Soldiers Defeated by Financial Obligation
A federal law is expected to protect solution people from predatory financing. But loan providers exploit loopholes, trapping personnel that are military high-interest debt.
May 15, 2013, 5:50 a.m. EDT
The 182 Loan: How Installment Lenders place Borrowers in an environment of Hurt
Lots of people understand the perils of pay day loans. But “installment loans” likewise have sky-high prices and work through getting borrowers — usually poor — to renew over and over repeatedly. We just simply simply take you inside one of several biggest installment loan providers, billion-dollar World Finance.
Might 13, 2013, 9 a.m. EDT
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