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ProPublica logo Newly Defanged, Top Consumer Protection Agency Drops Investigation of High-Cost Lender

ProPublica logo Newly Defanged, Top Consumer Protection Agency Drops Investigation of High-Cost Lender

Lending and Collecting in the us

Payday advances represent only 1 element of a high-cost financing industry that targets low income customers, trapping numerous in deep financial obligation. Whenever regulators and lawmakers attempt to break straight down, lenders tweak their products or services to obtain round the legislation.

Within the latest indication that the customer Financial Protection Bureau is pulling straight straight back from aggressive enforcement, it dropped a study brought about by a 2013 ProPublica story about a loan provider that fees triple-digit interest levels.

Jan. 23, 2018, 6:12 p.m. EST

Allow the Game of Whack-A-Mole Begin: Feds Submit New Payday Rules

New rules submit because of the customer Financial Protection Bureau could have an important effect on the high-cost loan industry. However if history is any guide, loan providers will find some loopholes quickly.

March 27, 2015, 12:07 p.m. EDT

Defense Department Proposes Broad Ban on High-Cost Loans to Service Customers

Acknowledging that a law that is previous perhaps not get far sufficient, Defense Department proposes new guidelines to guard solution people from high-cost loan providers.

Sept. 26, 2014, 3:05 p.m. EDT

Insta-Loophole: In Flor Despite a ban on high-interest automobile name loans, the nation’s largest title loan provider has exposed 26 Instaloan stores in Florida, providing a refashioned form of the loans that effortlessly charge similar sky-high prices what the law states had been built to stop.

July 25, 2014, 9 a.m. EDT

To guard Provider Customers, Defense Department Plans Wide Ban on High-Cost Loans

Acknowledging that a law that is previous not get far sufficient, Defense Department stated it requires to expand guidelines to safeguard solution people from high-cost loan providers.

4, 2014, 3:17 p.m. EDT june

High-Cost Lender World Finance Target of Federal Probe

The investigation follows a ProPublica story that detailed the company’s lending methods.

March 13, 2014, 3:52 p.m. EDT

Podcast: what sort of $1,000 Loan Ballooned into a $40,000 financial obligation

Dec. 17, 2013, 1:08 p.m. EST

When Lenders Sue, Quick Money Can Change Into an eternity of Financial Obligation

High-cost loan providers exploit legislation tipped inside their opt to sue tens and thousands of People in america each year. The effect: A $1,000 loan grows to $40,000.

Dec. 13, 2013, 11:46 a.m. EST

To Dodge Law, High-Cost Lender Has Money 100% free

TitleMax, one of many quickest growing high-cost loan providers in the nation, has discovered an inspired method around regulations passed away by a number of Texas towns and cities: provide a preliminary loan at zero interest.

Sept. 3, 2013, 2:09 p.m. EDT

How One State Succeeded in Restricting Payday Advances

Washington State passed a pay day loan reform bill that just limits the amount of loans an individual can ingest a 12 months. Here’s exactly what took place.

Aug. 6, 2013, 9 a.m. EDT

Whack-a-Mole: Just Just How Payday Lenders Bounce Back When States Crack Down

In state after declare that has attempted to ban payday and comparable loans, the industry has discovered how to continue steadily to peddle them.

Aug. 6, 2013, 9 a.m. EDT

The Payday Playbook: Exactly Exactly Just How High Price Lenders Fight to Remain Legal

Just last year, activists in Missouri attempted to restrict what lenders that are high-cost charge. The ensuing fight exposed a thing that rarely makes view therefore vividly: the high-cost lending industry’s ferocious efforts to remain appropriate and remain in operation.

Aug. 2, 2013, 9 a.m. EDT

Senator Presses Customer Bureau on Installment Lender World Finance

Citing our research, Sen. Ron Wyden asked an official that is top the buyer Protection Financial Bureau in what can be carried out to handle abuses by installment loan providers.

July 25, 2013, 9:59 a.m. EDT

On Victory Drive, Soldiers Defeated by Financial Obligation

A law that is federal designed to protect solution people from predatory financing. But lenders exploit loopholes, trapping personnel that are military high-interest financial obligation.

Might 15, 2013, 5:50 a.m. EDT

The 182 Loan: How Installment Lenders place Borrowers in a full world of Hurt

Many individuals understand the perils of pay day loans. But “installment loans” also provide sky-high prices and work through getting borrowers — usually that are poor renew over repeatedly. We just simply take you inside one of several installment lenders that are biggest, billion-dollar World Finance.

Might 13, 2013, 9 a.m. EDT

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