Tag Archives: Payday Lending

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USA Today: Payday Lenders Lobby for Regulation Exemption

USA Today reports: WASHINGTON — Payday lenders have stepped up their federal lobbying as Congress works on sweeping legislation to regulate banks and protect consumers from the risky financial practices blamed for the economic crisis. The Community Financial Services Association, which represents more than half

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CFPB Must Cover Check Cashers and Payday Lenders

This information is courtesy of AFR member Consumer Federation of America. Payday Lending should be covered by the Consumer Financial Protection Bureau! Payday lending is predatory lending. Loans are extremely expensive, made without determination of ability to repay, trap borrowers in debt, and put a

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Springfield Says “No” to Payday Loans

[Springfield, MO] – Local advocates and consumers gathered outside Advance America, 1773 S Glenstone today, Wednesday, March 17, to protest financial abuses by payday loan companies. Advance America is the nation’s largest payday lender and is actively opposing reform of its industry. As the Senate takes up

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CFPA and Nonbanks: A Snapshot

Our friends at the National Consumer Law Center have put together a great two-page report on the dire need for federal regulation of non-bank lenders.  The report focuses on the problems created by the current lack of regulation of debt collectors and debt buyers, credit

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ABC News Springfield: Protesting Payday Loans

This week’s protests are making the airwaves.  Folks around the country are turning up to protest abusive financial products like usurious payday loans.  This story from ABC News Springfield IL is an example. Click here to find a protest in your area!