New Orleans Well, now we’re talking! The Consumer Finance Protection Bureau (CFPB), what a name, is stepping up big time with new rules to rein in predatory practices of payday lenders. Just because they have storefronts dotting ubiquitously in lower income neighborhoods does not mean they are small fry. This is over a $46 billion …
Tag: payday loans
The Paradox and Problem of Payday Lending
New Orleans Here’s an irony that is stark, yet impossible to really appreciate or enjoy. The Atlantic billed its most recent issue as “The Money Report.” The cover article was built around the premise that almost half of the American people have trouble coming up with $400, when there is a financial bump in their …
Payday Lending is a Huge Money Maker for Big Banks
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 …