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

Lending and Collecting in the usa

Payday loans represent just one section of a high-cost financing industry that targets low income customers, trapping many in deep financial obligation. Whenever regulators and lawmakers make an effort to break straight straight down, lenders tweak their products or services to have all over legislation.

Within the latest indication that the customer Financial Protection Bureau is pulling straight straight back from aggressive enforcement, it dropped a study set off by a 2013 ProPublica tale of 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 could have an important effect on the loan industry that is high-cost. 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 a past legislation did maybe not get far sufficient, Defense Department proposes brand brand new guidelines to guard solution people from high-cost loan providers.

Sept. 26, 2014, 3:05 p.m. EDT

Insta-Loophole: In Flor Despite a ban on high-interest car name loans, the nation’s title lender that is largest has exposed 26 Instaloan shops in Florida, supplying a refashioned type of the loans that effortlessly charge similar sky-high rates what the law states had been made to stop.

25, 2014, 9 a. M july. EDT

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

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

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 techniques.

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

Podcast: How a $1,000 Loan Ballooned into a $40,000 Debt

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

Whenever Lenders Sue, Quick Money Can Change Into an eternity of Financial Obligation

High-cost loan providers exploit legislation tipped inside 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 Has Money free of charge

TitleMax, one of many fastest growing high-cost lenders in the united kingdom, has discovered an inspired method around regulations passed by a number of Texas towns titlemax and cities: offer a preliminary 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 just limits how many loans an individual can consume a 12 months. Here’s exactly just exactly what occurred.

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

Whack-a-Mole: 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 methods to continue steadily to peddle them.

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

The Payday Playbook: Exactly Exactly How High Price Lenders Fight to Stay Legal

Just last year, activists in Missouri attempted to restrict what lenders that are high-cost charge. The fight that is ensuing a thing that 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 premier official from the buyer Protection Financial Bureau by what can be achieved 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 designed to protect solution users from predatory financing. But loan providers exploit loopholes, trapping personnel that are military high-interest financial obligation.

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

The 182 Loan: How Installment Lenders place Borrowers in an environment of Hurt

People understand the problems of pay day loans. But “installment loans” likewise have sky-high prices and work through getting borrowers — usually that are poor renew again and again. We simply simply take you inside one of many biggest installment loan providers, billion-dollar World Finance.

Might 13, 2013, 9 a.m. EDT

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