A payday loans rule that stalled for years will help borrowers - NPR
Jun 28, 2024 · The Center for Responsible Lending (CRL) estimates that in 30 states where payday loans are allowed, more than $2.2 billion is paid each year by borrowers who earn an average of $25,000...
Payday Lending - Federal Trade Commission
Jan 24, 2024 · Many consumers who need cash quickly turn to payday loans – short-term, high interest loans that are generally due on the consumer’s next payday after the loan is taken out.
The U.S. wants to crack down on payday loans. Here’s what you …
Jun 10, 2024 · Following a Supreme Court ruling in May, the federal government is expected to get tougher on regulating payday lenders and other firms that offer high-interest, short-term loans.
CFPB Payday Lending Rule to Take Effect After Supreme Court Win
Jun 20, 2024 · The Consumer Financial Protection Bureau’s bitterly contested payday lending rule is set to take effect next year after a federal appeals court declined to reopen an industry challenge that included a trip to the US Supreme Court.
Payday lenders' Texas lawsuit could topple watchdog that ... - KERA News
Oct 3, 2023 · Lenders that offer small, short-term loans with high fees could be affected by a Supreme Court case that'll determine the fate of the Consumer Financial Protection Bureau.
How payday loan companies are planning their comeback
Nov 29, 2023 · Payday loans are short-term, unsecured loans that often charge high rollover fees and interest rates. For decades, the payday industry has preyed on low-income people with poor credit who need emergency funds and are unlikely to get help from traditional banks.
CFPB's payday lending rule takes effect March 30, court orders
Nov 27, 2024 · In a surprise Thanksgiving Eve action, a panel of the Fifth U.S. Circuit Court of Appeals has set March 30, 2025 as the effective date of the Consumer Financial Protection Bureau's (CFPB) payday...
Payday Loans - The New York Times
News about Payday Loans, including commentary and archival articles published in The New York Times.
Supreme Court Rejects Payday Lender Effort To Gut The …
May 16, 2024 · Community Financial Services Association saves the consumer financial regulator from an effort by payday lenders to invalidate every action it has taken since it was established in 2010. The 7-2...
A watchdog group targets payday lenders with a ‘2 strikes’ rule to …
Jun 28, 2024 · The federal Military Lending Act has long capped the annual interest charged on payday loans for military members and their families at 36%. Edward D'Alessio, the executive director at INFiN, a trade group that represents the payday loan industry, says such limitations make it hard for lenders to do business.