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

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

Within the latest indication that the buyer Financial Protection Bureau is pulling straight right right back from aggressive enforcement, it dropped a study brought about by a 2013 ProPublica tale in regards to a loan provider that charges 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 because of the customer Financial Protection Bureau might have a major effect on the high-cost loan industry. 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 law that is previous maybe perhaps not get far sufficient, Defense Department proposes brand brand new guidelines to safeguard 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 vehicle 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 efficiently charge the exact same sky-high prices what the law states ended up being built to stop.

25, 2014, 9 a. M july. EDT

To safeguard Service Customers, Defense Department Plans Broad Ban on High-Cost Loans

Acknowledging that the law that is previous maybe maybe perhaps not get far sufficient, Defense Department stated it must expand guidelines to safeguard solution people 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 as a $40,000 financial obligation

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 laws tipped inside 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, among the quickest growing high-cost loan providers in the nation, has discovered an inspired 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 cash advance reform bill that simply limits the amount of loans an individual can ingest a 12 months. Here’s exactly what occurred.

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

Whack-a-Mole: Exactly Exactly Exactly 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: Just How High Price 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 a thing that rarely has view therefore vividly: the high-cost lending industry’s ferocious efforts to remain legal and remain running a business.

Aug. 2, 2013, 9 a.m. EDT

Senator Presses Consumer Bureau on Installment Lender World Finance

Citing our research, Sen. Ron Wyden asked an official that is top the buyer Protection Financial Bureau by what can be official website achieved to deal with abuses by installment loan providers.

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

On Victory Drive, Soldiers Defeated by Debt

A federal legislation is likely to protect solution people 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: How Installment Lenders place Borrowers in an environment of Hurt

Many individuals understand the hazards 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 simply 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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