Payday & Small-Dollar Lending
RECENT LETTERS AND STATEMENTS
- Senate letter (June 2015)
- House letter (June 2015)
- Florida consumer advocates’ letter (June 2015)
- Florida congressional delegation letter opposing a strong rule (May 2015)
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AFR and More than 450 Groups Urge CFPB to Stop the Payday loan Debt Trap (AFR, 10/23/14)
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AFR Calls for Strong Rules on Payday Lending (AFR, Mar. 29, 2014)
- Bank Payday Gone! What’s Next For Small Dollar Loans? (National Consumer Law Center, Jan 30, 2014)
- Good News for Consumers: Regions Bank Bows Out of the Payday Loan Business (AFR, Jan 15, 2014)
- Federal Regulators Urged to Crack Down on Bank Complicity in Illegal Payday Loans (AFR, NCLC, CFA, CRL and 26 Organizations, Oct 24, 2013)
- Consumer Groups Urge FTC to Ban Payment Systems Favored by Scammers (AFR and 14 Consumer Groups, Aug 6, 2013)
- Letter to OCC on Wells Fargo CRA Exam: Payday Lending Problems (AFR and 9 Organizations, Dec 3, 2012)
BACKGROUND MATERIALS
- Payday Pay-to-Play: How High-Cost Lenders Line the Pockets of Powerful Washington Politicians (AFR, June 2015)
- Profiling Internet Small-Dollar Lending (Pew Charitable Trusts, July 2014)
- How State Rate Limits Affect Payday Loan Prices (Pew Charitable Trusts, April 2014)
- Data Point: Payday Lending (Consumer Financial Protection Bureau, April 2014)
- Payday Lending in America: Policy Solutions (Pew, Oct 2013)
- Effective State and Federal Payday Lending Enforcement (Center for Responsible Lending, Sep 2013)
- State of Lending in America: Non-Bank Payday (Center for Responsible Lending, Sep 2013)
- State of Lending in America: Bank Payday (Center for Responsible Lending, Sep 2013)
- Car-Title lending (Center For Responsible Lending, July 2013)
- The Case for Banning Payday Lending: Snapshots from Four Key States (New Economy Project, California Reinvestment Coalition, Reinvestment Partners, and Woodstock Institute, June 2013)
- Why 36%? The History, Use, and Purpose of the 36% Interest Rate Cap (National Consumer Law Center, April 2013)
- Net Economic Impact of Payday Lending in the U.S. (Center for Community Economic Development, March 2013)
- Payday Lending in America: How Borrowers Choose and Repay Payday Loans (Pew, Feb 2013)
- A Complex Portrait: An Examination of Small-Dollar Credit Consumers (Center for Financial Services Innovation, August 2012)
- Payday Lending in America: Who Borrows, Where They Borrow, and Why (Pew, July 2012)
- Payday Loans and Deposit Advance Products (CFPB, April 2013)
- The Party’s Over For Quickie Tax Loans: But Traps Remain For Unwary Taxpayers (CFA, Feb 2012)
ARTICLES & OPINION
- Payday lenders prey on low-income families (Gynnie Robnett, NWI Times, 8/2/15)
- Protect Our Communities From Predatory Payday Lenders (Wade Henderson, The Root, 4/9/14)
- Wells Fargo, U.S. Bank are Latest to Exit Deposit Advance Business (Kevin Wack, American Banker, Jan 17, 2014)
- CashCall Case Sends a Message: Online Lenders Can’t Collect on Loans that Break State Laws (Rebecca Thiess, AFR Blog, Jan 3, 2014)
- Coming After the Modern-Day Loan Shark (Jim Lardner, US News, Dec 5, 2013)