Congress Repeals Trump-era Payday Lender Regulations
Congress on Thursday overturned a set of regulations enacted in the final days of the Trump administration that effectively allowed payday lenders to avoid state laws capping interest rates.
CFPB to Gut Most of its Payday Lending Rules
The nation’s federal financial watchdog said Wednesday that it plans to abolish most of its critical consumer protections governing payday lenders.
Feds Encourage Banks to Compete with Payday Lenders
With millions of U.S. consumers borrowing nearly $90 billion every year from payday lenders, U.S. Comptroller of the Currency Joseph Otting is encouraging traditional financial institutions to offer responsible short-term, small-dollar installment loans.
House Financial Services Committee Approves Change to Payday Lending Rule
The U.S. House Financial Services Committee yesterday approved legislation that would change the payday lending rule, according to Credit Union Times.
