ProPublica logo Newly Defanged, Top Consumer Protection Agency Drops Research of High-Cost Lender

ProPublica logo Newly Defanged, Top Consumer Protection Agency Drops Research of High-Cost Lender

Lending and Collecting in the usa

Pay day loans represent only 1 element of a high-cost financing industry that targets low income customers, trapping many in deep financial obligation. Whenever regulators and lawmakers you will need to break straight straight straight down, lenders tweak their products or services to have across the legislation.

When you look at the latest indication that the buyer Financial Protection Bureau is pulling right right straight back from aggressive enforcement, it dropped an investigation set off by a 2013 ProPublica tale about 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 Brand New Payday Rules

New rules submit because of the customer Financial Protection Bureau will have a major effect on the loan industry that is high-cost. However, if history is any guide, loan providers will find some loopholes quickly.

March 27, 2015, 12:07 p.m. EDT

Defense Department Proposes Broad Ban on High-Cost Loans to Service Customers

Acknowledging that a past legislation did perhaps perhaps maybe not get far sufficient, Defense Department proposes 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 vehicle name loans, the nation’s title lender that is largest has opened 26 Instaloan shops in Florida, supplying a refashioned type of the loans that effectively charge the exact same sky-high prices what the law states had been built to stop.

July 25, 2014, 9 a.m. EDT

To safeguard Provider Customers, Defense Department Plans Wide Ban on High-Cost Loans

Acknowledging that a past legislation did maybe maybe maybe not get far enough, Defense Department stated it requires to expand rules to safeguard service users from high-cost loan providers.

June 4, 2014, 3:17 p.m. EDT

High-Cost Lender World Finance Target of Federal Probe

The research follows a ProPublica story that detailed the company’s lending techniques.

March 13, 2014, 3:52 p.m. EDT

Podcast: what sort of $1,000 Loan Ballooned in to a $40,000 financial obligation

Dec. 17, 2013, 1:08 p.m. EST

Whenever Lenders Sue, Quick Money Are Able To Turn Into an eternity of Financial Obligation

High-cost loan providers exploit legislation tipped within their opt to sue tens and 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 Has Money 100% free

TitleMax, one of several quickest growing high-cost loan providers in the nation, has discovered an imaginative means around legislation passed away by a number of Texas towns and cities: provide a short loan at zero interest.

Sept. 3, 2013, 2:09 p.m. EDT

How One State Succeeded in Restricting Pay Day Loans

Washington State passed a pay day loan reform bill that just limits how many loans an individual can consume a 12 months. Here’s just exactly exactly what occurred.

Aug. 6, 2013, 9 a.m. EDT

Whack-a-Mole: Exactly Just Just How Payday Lenders Bounce When States Crack Down

The industry has found ways to continue to peddle them in state after state that has tried to ban payday and similar loans.

Aug. 6, 2013, 9 a.m. EDT

The Payday Playbook: Exactly How High Cost Lenders Fight to Remain Legal

This past year, activists in Missouri attempted to restrict what high-cost loan providers can 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 running a business.

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 achieved to deal with abuses by installment lenders.

July 25, 2013, 9:59 a.m. EDT

On Victory Drive, Soldiers Defeated by Financial Obligation

A federal legislation is designed to protect solution users from predatory financing. But loan providers exploit loopholes, trapping army workers in high-interest financial obligation.

Might 15, 2013, 5:50 a.m. EDT

The 182 loan that is percent How Installment Lenders Put Borrowers in an environment of Hurt

Lots of people understand the risks of pay day loans. But “installment loans” likewise have sky-high prices and work through getting borrowers — usually that are poor renew over and over repeatedly. We just just just take you inside one of several installment lenders that are biggest, billion-dollar World Finance.

Might 13, 2013, 9 a.m. EDT

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