New Orleans The Consumer Financial Protection Bureau (CFPB) released a recent report in the United States with the boring title “Online Payday Loan Payments,” but despite that, wake-up, this is important. The report is ostensibly directed at online payday lenders, and there’s nothing wrong with that; they need a hard look. Many of them have …
Tag: Consumer Financial Protection Bureau (CFPB)
Perhaps Some Progress on Payday Lending Rules in USA
New Orleans Payday lenders could not operate without the collaboration of the big money center banks. They are financiers providing the dollars being lent in predatory fashion to desperate lower income families. They are also the loan collectors by facilitating drafting from borrowers’ accounts to service the loans for the payday lenders, sometimes on multiple …
Chase and Other Banks Need Policing & Regulation on Pay Day Lending Abuses
Little Rock It takes a lot of newsprint and video clips to bring Jamie Dimon, the arrogant chief of JP Morgan Chase, one of USA’s largest banks, down but stories in the Times picked widely of Chase enabling predatory on-line payday lenders by allowing hundreds and thousands of overdraft and other fees to empty workers’ …