California Assembly Member Monique Limón (foreground) introduced a bill to create a financial monitoring agency for the state. Rich Pedroncelli / AP hide caption toggle legend Rich Pedroncelli / AP California Assembly Member Monique Limón (foreground) introduced a bill to create a financial monitoring agency for the state. Rich Pedroncelli …

Cozen in the news Cozen O’Connor State AG Group Lawyers Discuss Workplace Enforcement Priorities and Regulatory Risks Cozen O’Connor State AG group members Maria Colsey Heard and Ann-Marie Luciano published an article in Bloomberg Law in which they explained how state attorneys general are accelerating their law enforcement efforts at …

Installment loans seem to be a softer, softer version of their “predatory” cousin, the payday loan. But for consumers, they can be even more harmful. Using installment loan, in which a consumer borrows a lump sum and repays principal and interest in a series of regular installments, has increased considerably …

Reverend Timothy Tyler rallies supporters of Proposition 111 on the 16th Street Mall. (Photo by Mara Abbott) It was a cold October morning and Reverend Timothy Tyler was preaching from a corner of Denver’s 16th Street Mall. “It is time for people of conscience to unite to do what is …

A subscribing borrower a $ 500 loan could still pay more than 300% annual interest, despite new rules designed to crack down on predatory small dollar lending on Thursday from the Consumer Financial Protection Bureau (CFPB). The consumer protections proposed for payday loans, auto title loans and high-cost installment loans …

More than 10 million people in the United States are out of work, and the hardest-hit industries are also among the lowest-paying, including retail, entertainment, hospitality, and tourism. Sarah Gonzales for NPR hide caption toggle legend Sarah Gonzales for NPR More than 10 million people in the United States are …

The Ohio House overwhelmingly passed long-awaited payday loan legislation designed to fill loopholes that lenders use to charge high interest rates. Thursday’s vote comes just after the House has elected a new president, and as an FBI investigation continues to investigate activities involving the former president and payday loan lobbyists. …

Breadcrumb Links Local News Author of the article: Chris Cobb • Citizen of Ottawa Payday loan points on Montreal Road in Vanier. Photo by Julie Oliver /Citizen of Ottawa Content of the article When chronic illness forced Robbie McCall to quit his job as a heavy equipment operator, he was …

About one in eight American adults (12%) report an almost intolerable level of stress due to the pandemic. Tweet this More than two in three Americans (71%) report experiencing stress from a pandemic of some kind. The most common type of stress is mental or emotional stress (53%), followed by …

US Senator Jeff Merkley had scathing words for a recent decision by the Consumer Financial Protection Bureau that will allow businesses to offer payday loans knowing that beneficiaries are financially unable to repay the loans on their due date. “Every day the Trump administration prioritizes the privileged and powerful over …

Payday lenders can often be compared to loan-sharking. Critics believe these lenders exploit those who are so desperate for cash fast that they end up taking out loans that have absurdly high interest rate. Pew Charitable Trusts 2012 research has shown that the typical payday loan borrower takes out eight small-term loans …

Many believe it is time for the CFPB to heed the advice Spike Lee as Mookie gave to Danny Aiello (as Sal) in the 1989 classic: “Do the right thing” and make some rules. payday loan (Courtesy photo) By: Charlene Crowell For most people, life is better when there is …

Startups that offer quick access to worker wages are scrambling over key aspects of pending California legislation that would create the nation’s first-ever regulatory framework for the nascent industry. The state Senate passed a 35-0 bill last month, but interviews with executives in the fast-growing sector revealed big disagreements over …

Dave, a new fintech app, is the David of the Goliath of big banks, battling sky-high overdraft fees by warning people they’re about to blow their budgets and even lending them $ 75 until their next paycheck. With 4 in 5 Americans living from paycheck to paycheck, the mascot Dave’s …

The Google logo is displayed at the company’s headquarters in Mountain View, California, in 2015. Justin Sullivan / Getty Images hide caption toggle legend Justin Sullivan / Getty Images The Google logo is displayed at the company’s headquarters in Mountain View, California, in 2015. Justin Sullivan / Getty Images If …

American Legislative Exchange Council (ALEC) member companies are profiting from the Trump administration’s deregulation frenzy. The CAFTA is of course the corporate invoice mill that provides a library of lobbyist-drafted or approved “model legislation” to lawmakers in right-wing states across the country. Advance America is the largest payday loan lender …

Maybe it’s time to admit daddy knew best. After talking to both sides about the payday loan rules battle, I can’t help but go back to my father’s regulatory regime. Two words dictated his approach to managing his finances: “Pay cash”. No one, not even the Consumer Financial Protection Bureau, …

Andrew Lopez used to spend two full days a month plotting his grocery itinerary. He sifted through coupons from Los Angeles grocers, carefully putting together and editing a shopping list that would hopefully get the most out of their funds. “I used to run from store to store to get …