Hiding money through fraudulent transfers to avoid paying more than $40 million in restitution and penalties for illegal payday lending activities was charged against the former chief of a Delaware-based firm, and his wife, by […]
Charged with concealing free repayment plans from struggling borrowers – which allegedly resulted in borrowers paying up to thousands in reborrowing fees – a Texas-based payday lender has been sued by the federal consumer financial […]
Few payday loan borrowers are benefiting from no-cost extended payment plans, but instead are paying for costly loan rollovers, according to a report published Wednesday by the federal consumer financial protection agency. The Consumer Financial […]
Payment provisions in a 2017 rule on payday loans were upheld by a federal court in Texas Tuesday, essentially turning back a challenge to the four-year-old regulation. The ruling means compliance with the rule will […]
The National Credit Union Administration (NCUA) on Thursday issued a regulatory alert outlining for credit unions the key provisions of the Consumer Financial Protection Bureau’s (CFPB) payday lending rule, as revised last month. The NCUA […]
Title: Payday, Vehicle Title, and Certain High-Cost Installment Loans Subject: Payday lending Agency: CFPB Status: Final rule Summary: The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend its regulations governing […]
Most regulatory actions taken from 2012 through the middle of 2020 by the consumer financial protection agency were ratified by the agency Tuesday in response to a Supreme Court decision last week declaring the agency’s […]
A new final rule on small-dollar lending issued Tuesday by the federal consumer financial protection agency revokes “ability to repay” provisions of the previous rule but makes no changes to the payment protection provisions already […]
Violations of federal rules regulating payday lending, debt collection, mortgage servicing, and student loan servicing are highlighted in the latest version of “supervisory highlights” from the federal consumer financial protection agency. Payday lending led with […]
A final, revised rule on payday lending is anticipated for April of next year, the director of the Consumer Financial Protection Bureau (CFPB) said Tuesday, following review of approximately 190,000 comments from stakeholders. In a […]
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