Nebraskans vote to cap interest rates on payday loans

Nov 11, 2020
Voters overwhelmingly approved limiting annual interest on small-dollar loans to 36%.
A new report from the Joint Economic Committee in Congress finds that Black, Hispanic, and poorer Americans are much more likely to be considered "unbanked" or "underbanked".
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CFPB seeks to rollback rule restricting payday lenders

Feb 7, 2019
The Trump administration is handing payday lenders a potential victory.
A sign outside a "Speedy Cash" cash loans shop on Brixton High Street on Nov. 1, 2012 in London, England.
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CFPB head Mulvaney grilled on Capitol Hill

Apr 11, 2018
Across the hallway from Mark Zuckerberg’s second round on Capitol Hill today there was another hearing taking place. This one was not quite so well-attended. Mick Mulvaney was there to be questioned on his role as acting director of the Consumer Financial Protection Bureau. Democrats have been worried that Mulvaney is a little overly-friendly to […]

CFPB will take another look at the payday lending rules

Jan 17, 2018
Last year, the Obama administration enacted new rules regarding payday lending. They haven’t yet come into effect. Now, the Consumer Financial Protection Board says it will reconsider the tighter regulation that would have required payday lenders to make sure the people they lend to can actually repay their loans. The rule was bitterly opposed by […]