Despite recent regulatory changes designed to encourage banks to offer small dollar loans few banks are taking up the challenge;...
Recent research suggests that payday lenders are marketing directly to consumers who are seeking financial help due to the pandemic;...
While writing in his weekly Forbes Column Ron Shevlin of Cornerstone Advisors says on-demand pay or earned wage access services...
When the CFPB was first formed the mission was to better protect consumers from financial products that did not suit...
Almost 800,000 U.S. government workers are out of work due to the shutdown and high cost, short term lenders are...
Yesterday, the CFPB formally rescinded a plan to impose new limits on payday lending; the proposed changes were a signature...
Payday lending has always had a place in financial services as they do offer credit to those who are shut...
Payday lenders have mobilized their customers in a bid to help them put pressure on the CFPB to rollback some...
Small dollar loans can be quite profitable. Just look at the number of payday loan stores in the US, there...
The new CFPB director Mick Mulvaney is planning to rollback a key regulation that will allow payday lenders to charge very high interest rates; the current rule was set to be enacted soon and allow for lenders to become compliant by the middle of 2019; the rule limited the amount of money or the amount of times a person could borrow from these short term lenders; with the removal of the rule payday lenders can go back to operating like they did prior to the CFPB; many fear that lower income Americans will become mired in debt. Source.