After five years of field hearings, town hall meetings, multiple research reports, and over one million comments, the Consumer Financial Protection Bureau (CFPB) announced on October 5 a new rule to rein in predatory payday and car-title loans.
Within days of the October 7 deadline for public comment on the Consumer Financial Protection Bureau’s proposed payday rule, 104 Members of Congress from 32 states, the District of Columbia and the Virgin Islands together called for strong consumer protections, and an end to both regulatory loopholes and predatory debt traps.
If you are one of the 77 million Americans who are hounded each year by debt collectors, the Consumer Financial Protection Bureau (CFPB) is taking on this $13 billion industry. At a July 28 field hearing in Sacramento, Richard Cordray, CFPB Director, announced the Bureau’s intent to rein in illegal practices that harass and rob consumers.
As our nation pauses once again in memory of the late Dr. Martin Luther King, Jr., observances across the country will recall his now world-famous Dream. Delivered in a blistering summer’s heat in 1963, the speech attracted over 250,000 people gathered in Washington and millions more who watched on television.
In this wonderful time of the year when family and friends gather in good cheer to celebrate the holidays, nearly everyone has a number of lists. From greeting cards to shopping for gifts, decorations and more, lists are made and reviewed to keep pace with the barrage of seasonal activities.
The old adage, ‘the more things change, the more they stay the same’ seems somehow an apt description for what a growing number of communities are suffering: a lack of fair lending.
Over the past decade, no state has authorized either predatory payday or car title loans. That consumer financial progress came about through a combination of state and local advocates working with state lawmakers to bring a sense of financial fairness to their local communities.
Car lending is on the rise, and rising with it is a hidden, unfair, abusive and discriminatory practice: car dealer interest rate markups. Surveys show that at least two-thirds of Americans have no idea it happens.
Car lending is on the rise, and rising with it is a hidden, unfair, abusive and discriminatory practice: car dealer interest rate markups.
A long-awaited decision by the United States Supreme Court led to a June 25 ruling that preserves the usage of 'disparate impact', an important legal principle sometimes known as the discriminatory effects standard. The majority opinion held that housing discrimination under the nation's 1968 Fair Housing Act (FHA) occurs by effect -- as well as by intent.