CFPB rolls back restrictions on payday lenders

Jul 9, 2020
Lenders will not have to verify whether borrowers have the ability to pay back high-interest loans
About 12 million Americans take out payday loans every year, mostly to cover necessities like rent or utilities.
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Citi plans to buy PPP loans from minority-owned lenders

May 21, 2020
The arrangement would allow minority-owned lenders to take PPP loans off of their balance sheets.
Citi says it will purchase $50 million in loans from minority-owned lenders.
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Fed announces $2.3 trillion in additional lending

Apr 9, 2020
The loans, to support American households, businesses and local governments, is part of the Main Street Lending Program authorized by the economic relief law.
Olivier Douliery/AFP via Getty Images

How bowling shoes help explain the repo market

Oct 9, 2019
It’s a wonky subject, but important. Arcades, power grids and plumbing systems also help make sense of it.
If you want to understand the repo market, think about renting shoes at a bowling alley.
Alexander Klein/AFP/GettyImages

As loans come due, farmers feel the financial squeeze

Mar 25, 2019
Some farmers are “quietly exiting” because they can’t make a profit.
Farmer Tom Giessel stands in front of a corn pile near Larned, Kansas. The corn was grown in 2017 and because of a market glut, it still hasn’t sold.
Peggy Lowe/KCUR

Auto loan delinquencies rise for younger drivers

Feb 14, 2019
New car sales have been high for the past few years, and that means there are a lot more car loans out there. There are a lot more delinquent ones, too. According to a report from the New York Federal…
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For Ukraine, IMF delivers a gift with strings

Dec 25, 2018
You know Dasher and Dancer and Prancer and Vixen. How about the International Monetary Fund? The global financial lender is about to deliver to Ukraine the first installment of almost $4 billion in low-interest loans approved last week. It’s a…

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A Hail Mary bid to save Sears

Dec 7, 2018
The chairman of the storied retailer has proposed a $4.6 billion bid to save what's left of the 130-year-old chain.
A Sears store in Brooklyn, New York, in October.
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In an effort to attract young workers, Maine is offering to reimburse their student loan payments

Nov 30, 2018
It's no secret that workers are getting older nationwide. But the problem is extra tough in Maine.
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How New York's court system turned into a debt-collection machine

Nov 27, 2018
A series from Bloomberg this week sheds light on a predatory lending practice that’s turning New York’s court system into a debt-collection machine. Some lenders that offer cash advances to small businesses require their customers to sign what’s called a…