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

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

Lending and Collecting in the usa

Payday advances represent only 1 section of a high-cost lending industry that targets low income customers, trapping numerous in deep debt. Whenever regulators and lawmakers make an effort to break straight straight down, lenders tweak their products or services to obtain all over legislation.

When you look at the latest indication that the buyer Financial Protection Bureau is pulling straight right back from aggressive enforcement, it dropped a study brought about by a 2013 ProPublica tale of a lender that fees triple-digit interest levels.

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 by the customer Financial Protection Bureau will have a significant effect on the high-cost loan industry. However, if history is any guide, lenders 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 a past legislation did perhaps maybe not get far sufficient, Defense Department proposes brand brand new rules to guard 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 title lender that is largest has exposed 26 Instaloan shops in Florida, providing a refashioned form of the loans that efficiently charge the exact same sky-high prices what the law states had been made 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 perhaps maybe not get far enough, Defense Department stated it requires to expand rules 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 methods.

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 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 effect: 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 many quickest growing high-cost loan providers in the united kingdom, has discovered a way that is clever regulations passed away 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 pay day loan reform bill that simply limits the amount of loans an individual can consume a year. Here’s exactly just what occurred.

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

Whack-a-Mole: 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 Exactly Exactly 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 ensuing fight exposed a thing that rarely makes view therefore vividly: the high-cost lending industry’s ferocious efforts to remain 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 premier official from the customer Protection Financial Bureau by what can be carried out to deal with abuses by installment loan providers.

25, 2013, 9:59 a. M july. EDT

On Victory Drive, Soldiers Defeated by Financial Obligation

A law that is federal likely to protect solution users from predatory financing. But loan providers exploit loopholes, trapping army workers in high-interest debt.

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

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

People understand the problems of payday advances. But “installment loans” likewise have sky-high rates and work through getting borrowers — usually poor — to renew over and over repeatedly. We simply 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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