We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Payday Loans
CU comments to the OCC on Overdraft and Bank Payday
August 8, 2011 Office of Comptroller of the Currency 250 E Street, SW Mail Stop 2-3 Washington, D.C. 20219 Re: OCC Guidance on Deposit-Related Consumer Credit Products, Docket ID OCC-2011-0012 Dear Acting Comptroller Walsh: With this proposed guidance the OCC missed an opportunity to truly protect consumers from concerns raised by overdraft loans and Continue Reading
Categories: Banking
Tags: comment, loans, overdrafts, Payday Loans
Fast Cash Nation: Our Financial Health Crisis & How We Must Shape Up
Leah Plunkett, a staff attorney with the National Consumer Law Center, on how fast cash lending is bad for our financial health
Categories: CFPB
Tags: loans, Payday Loans
Small Dollar Loans, Big Problems
Consumers Union funded a report written by the National Consumer Law Center that shows the need for states need to be on the front line defense against predatory lending.
Categories: Uncategorized
Tags: loans, Payday Loans
Group comments to NCUA proposed rule on short term loans
COMMENTS of NATIONAL CONSUMER LAW CENTER (on behalf of its low-income clients) and CONSUMERS UNION on the National Credit Union Administration’s Proposed Rule on Short-Term, Small Amount Loans 12 CFR Part 701 75 Fed. Reg. 24497 (2010) July 6, 2010 With respect to the proposal, we support a higher 28% interest rate cap for small Continue Reading
Categories: Banking
Tags: legislation, loans, overdrafts, Payday Loans
Stopping the Payday Loan Trap: Alternatives That Work, One’s That Don’t
This report, by the National Consumer Law Center, examines over 100 payday loan alternatives and finds many that are genuine alternatives and others that are a payday loan by any other name. The report describes the history of the 36% rate cap and explains why, to be a safe and affordable alternative to a payday Continue Reading
Categories: Uncategorized
Tags: loans, Payday Loans, research
Consumers pay steep rates for small loans
Need more proof that we need a strong independent financial watchdog for consumers? We just put out a report with the National Consumer Law Center and the Consumer Federation of America that shows consumers in most parts of the country are vulnerable to small loan rip-offs.
Categories: CFPB
Tags: car titles, loans, Payday Loans
Senate debate on financial reform heats up
Now that the Senate floor debate on financial reform has started in earnest, supporters are ofering a number of amendments to strengthen the bill so that it better protects consumers from unsafe financial products and creates new rules to stop banks from getting so big that they could threaten the financial system.
Categories: Banking, CFPB, Credit Cards, Credit Reports, Gift Cards, Government Issued Cards, Mobile, Mortgages, Payments, Payroll Cards, Prepaid Cards, Student Loans
Tags: car titles, checks, debit cards, loans, overdrafts, Payday Loans, tax refunds
It’s time Washington looks out for us!
If you don’t think it matters having an aggressive watchdog in Washington looking out for consumers, just consider your credit card bill.
The full House just approved a new financial sheriff – now we need the Senate to do the same so we don’t have to endure more abusive tactics. Tell your Senators you want a watchdog who looks out for us.
Categories: CFPB, Mortgages, Student Loans
Tags: loans, Payday Loans
High-Cost Credit
Are you in debt with small, short-term loans?
Categories: Credit Cards, Credit Reports, Student Loans
Tags: car titles, loans, Payday Loans, tax refunds
Testimony in opposition to HR 1214, The Payday Loan Reform Act of 2009
Categories: Uncategorized
Tags: loans, Payday Loans, testimony
