In Arizona, the industry has a bill that would block minimum wage increases, because when people don’t have money, they need short-term loans.
payday lending
Posted inMoney, Politics, and Power
Freddie Mac Using Shady AI Company for Mortgage Loans
ZestFinance is implicated in high-cost payday lending and backed by Peter Thiel. It’s now working with a government-sponsored mortgage giant.
Posted inEconomic Policy
Thanks to Trump, Payday Lenders Will Keep on Merrily Bilking the Poor
The government shutdown reminded us that millions of Americans live paycheck-to-paycheck—which payday lenders will only continue to exploit if the CFPB has its way.
Posted inEconomic Policy
Under Trump, a New Golden Age for Payday Lending
A deregulatory push led by top-level Republicans could turn back the clock to the heyday of predatory lending.
Posted inEconomic Policy
CFPB Takes Aim at Payday Loan Debt Traps
For two decades, the payday loan industry has preyed on low-income workers by offering short-term loans with sky-high interest rates and fees. Now the five-year-old Consumer Financial Protection Bureau is taking the first major steps to curb the sector’s predatory practices. Under the proposed regulations announced this week, payday lenders must ensure that a borrower […]
Posted inEconomic Policy
The Feds Are Finally Moving to Regulate Payday Lending
The new rules are good, but could be better.
Posted inArticle
An End to Payday Loans?
Concern over the predatory practices of the payday lending industry has forged an unorthodox partnership in Virginia between religious, consumer-rights, and anti-poverty groups.