Category Archives: Autocad Developer

Payday lenders target communities of color. But fintechs offering small loans and flexible wages can help break the debt trap.

Payday lenders are concentrated in minority neighborhoods. Nati Harnik / AP Images Payday lenders are targeting black and Latin communities, creating more stores in minority neighborhoods. But for those who live paycheck to paycheck, predator ready may seem like the only option. Fintechs offering small loans and early access to wages could replace those that […]

“Rent a bank” fades for payday lenders

The regulatory eye on payday loans is tightening. To this end, as reported by the Associated Press, Congress voted to overturn Trump-era regulations that allow payday lenders to circumvent state laws that cap interest rates. In terms of mechanics, the rules, which had been put in place by the Office of the Comptroller of the […]

Congress repeals Trump-era payday lender regulations

Posted: June 25, 2021 / 2:09 PM MDT / Updated: June 25, 2021 / 2:09 PM MDT FILE – On this Tuesday, December 29, 2020, file photo, is the United States Capitol in Washington. On Thursday, June 24, 2021, Congress rescinded a set of regulations enacted in the closing days of the Trump administration that […]

Congress ends Trump-Era rule allowing payday lenders to avoid interest rate caps

Congress voted Thursday to overturn a Trump administration rule that allowed high-interest consumer lenders to tie up to banks and bypass state-level interest rate caps. The Office of the Comptroller of the Currency decision in late October stated that any bank or federal savings association that signs loan documents should be considered the “real lender,” […]

Congress overturns Trump-era regulations on payday lenders

NEW YORK – Congress on Thursday overturned a set of regulations enacted in the closing days of the Trump administration that effectively allowed payday lenders to avoid state laws capping interest rates. The House voted 218-208 to overturn the Office of the Comptroller of the Currency’s payday loan regulations, with a Republican voting with the […]

A Supreme Court ruling protecting payday lenders could also save Facebook and Martin Shkreli.

Last month, the Supreme Court unanimously ruled on an under-reviewed case that will make significant damage to the Federal Trade Commission, quashing the commission’s power to compensate victims of fraudsters through court-imposed penalties and siding with a payday lender leader in a feud over the repatriation of ‘approximately $ 1.3 billion to borrowers. The court […]

Unregistered payday lenders intimidate cash-strapped borrowers during pandemic

The pandemic economy is forcing some Nova Scotians to turn to unregistered online payday lender who resort to harassment, intimidation and name calling when customers fall behind on their payments, says a credit counselor. John Eisner, president and CEO of Credit Counseling Services of Atlantic Canada, said most of his recent clients are struggling with […]

Congress attacks payday lenders after SCOTUS frees them – people’s world

Rep. Jan Schakowsky, a veteran Illinois Democrat, is taking the charge to Congress to correct the damage caused by a Supreme Court ruling that allows payday lenders to get off the hook to defraud customers. | AP Pictures WASHINGTON – Well, it didn’t take long. A week after the United States Supreme Court unanimously awarded […]

Shady payday lenders win big in Supreme Court – people’s world

Supreme Court weakened key consumer protections with ruling in favor of payday loan companies / APs WASHINGTON (PAI) —One of the shadiest parts of the business world, payday lenders, won a big victory in the United States Supreme Court. The same is true for the rest of the business class, as judges removed a federal […]