Payday loan: a juxtaposition of recent CFPB actions | Alston and Bird
A&B Summary: Three recent actions by the Consumer Financial Protection Bureau ("CFPB"), on consecutive days, highlight inconsistencies in the CFPB's current approach to payday lending.
Motion to dismiss the NALCAB suit
On Monday,…
Biological sisters separated by adoption accidentally find themselves working in a restaurant
through: Amber Diaz, WTNH, Nexstar media wire
Posted: March 1, 2021 / 8:49 a.m. CST
/ Update: March 1, 2021 / 8:49 a.m. CST NEW!-->…
Dear Abby: Jealousy creates a barrier between biological siblings
DEAR ABBY: I am an American who was adopted at a young age. Several years ago, I reunited with my biological parents. They are not from America. My mother came here to give birth and left. Some time later, she married my father and had…
Chinese national Zaosong Zheng, accused of stealing biological material from Beth Israel Deaconess…
A Chinese national pleaded guilty Thursday in federal court in Boston to making false statements in connection with the theft of 21 vials of biological material from Beth Israel Deaconess Medical Center.Zaosong Zheng, 31, pleaded guilty to…
These 45 HBCUs have $ 1.6 billion in debt eliminated |
The education ministry said canceling loans for capital funding will improve outcomes for institutions and students.…
Compound Reaches $ 15 Billion In Total Loan Value As DeFi Boom Continues
In short
There is over $ 15 billion of cryptocurrency available to borrow on the Compound decentralized lending protocol.
The compound dominates the DeFi market with around 19% of the value locked in DeFi - $ 9.24 billion out of a total of…
Reduce the family tax bill
There are, however, a few legitimate and effective ways to split taxable income with a spouse or other family members. One of the most effective strategies in a low interest rate environment is to give a loan directly to a family member…
Student borrowers could have a higher tax bill this year
Student loan borrowers could see even more relief from the pandemic.ViT Postman | iStock | Getty ImagesMany people with federal student loans will not be able to claim a popular deduction on their taxes this year.Around 12 million…
South Korea gets new cycle path covered in solar panels
The section is a new innovation in civil engineering and although it connects Daejon and Sejong like any other highway, it does so much…
Boston Red Sox bench coach Will Venable has already lost 21 points to Duke at Cameron Indoor…
More than 15 years ago he would be named Red Sox bench coach and to call Fenway Park home, Will Venable had a memorable performance at one of America's other most famous sports cathedrals.Venable, who was hired as Alex Cora's new right-hand…
Regulation by blog or press release? | Manatt, Phelps and Phillips, LLP
CFPB interim director warns against enforcement of 'repayment capacity' law and residential evictions
In two recent communications, the Acting Director of the Consumer Financial Protection Bureau (CFPB or Bureau) reports that the…
Offshore Wind and Title XVII Loan Guarantee Program for Innovative Energies | Vinson & Elkins…
To promote offshore wind projects in the United States, the Biden administration recently extended the Title XVII Innovative Energy Loan Guarantee Program (the âTitle XVII Programâ) to developers,…
Payday Loans: A Juxtaposition of Recent CFPB Actions | Alston & Bird
A&B Summary: Three recent actions by the Consumer Financial Protection Bureau ("CFPB"), on consecutive days, highlight inconsistencies in the CFPB's current approach to payday lending.
Motion to dismiss the NALCAB suit
On Monday,…
CFPB moves to dismiss lawsuit challenging its overturning of mandatory underwriting provisions of…
The CFPB filed a motion to reject the Federal District Court lawsuit brought by the National Association of Latin American Community Asset Builders (NALCAB). This trial seeks to overturn CFPB's July 2020 Final Rule (2020 Rule)…
Current student loan news for the week of March 29, 2021
In the ever-changing world of student loans, staying on top of student loan news and rates is essential. Below are this week's student loan trends that could affect your loans and your portfolio.2 current trends in student loans for…
CFPB to Restore Firm Position on Payday Lenders
The Consumer Financial Protection Bureau is giving its clearest signal to date that a 2020 regulation relaxing the standards for payday lenders is in jeopardy, despite efforts already underway by the industry to implement the rule. Trump…
Momentum Gains to Curb Predatory Payday Loans | Commercial opinion
As the nation and much of the world continue to suffer from the ripple effects of COVID-19, the ability…
When will your $ 3,000 (or $ 3,600) arrive and who is eligible?
What would it be like if you had a monthly stimulus check? Some American households with children may soon have an idea.In addition to increasing unemployment benefits and paying out a third stimulus check to eligible Americans,…
Consumer Financial Protection Bureau Issues Statement Regarding Small Loans, Signals Return to…
On March 23, 2021, the CFPB issued a brief statement outlining its position regarding "consumer damage in the low dollar loan market" and likely future actions to reverse the previous CFPB administration's policy regarding the…
Illinois Predatory Loan Prevention Act Comes into Force | Ballard Spahr LLP
March 23, Illinois Governor Pritzker signed a law SB 1792, which contains the Preventing Predatory Lending Act (the âActâ). The new law came into effect immediately upon signing, notwithstanding the…
Illinois caps consumer rates at 36%, adopts state-level CRA
Illinois Governor JB Pritzker signed an invoice Tuesday capping interest rates on consumer loans at 36% and another bill that sets community reinvestment standards for state chartered financial institutions.The anti-predatory lending…
Loans for difficulties related to the coronavirus | The bank rate
As the United States battles the coronavirus pandemic, many consumers face financial hardship. The US unemployment rate is 6.2 percent, with 10 million people unemployed, according to the latest data from the Bureau of Labor…
Elevate named one of the 2021 Best Places to Work in Texas ™
FORT WORTH, Texas - (BUSINESS WIRE) - Elevate Credit, Inc. ("Elevate"), a leading technology provider of innovative and responsible online lending solutions for unprivileged consumers, today announced it has been named one of…
A Better Way To Regulate Payday Loans
I have two minds about reports that the Consumer Financial Protection Board is considering tough limitations on payday loans. On the one hand, the practice of lending short-term money at high interest is odious; on the other, the…
Momentum is building to curb predatory lending
As the nation and much of the world continue to suffer from the ripple effects of COVID-19, the ability of consumers to stay up to date on bills and spending is steadily declining - if not already.
According to the Census Bureau…
Biden Stimulus Program Makes Student Loan Forgiveness Tax Free
A small but important provision has been added to the $ 1.9 trillion stimulus package that just went through Congress - also known as the COVID-19 Relief Bill or American Rescue Plan - that makes student loan forgiveness exempt from…
Cancellation of student debt, modification of Title IX regulations
Prior to his inauguration, Biden promised to write off $ 10,000 in federal student loan debt and repeal Trump-era Title IX regulations. Credit: Ashley Landis / The Dallas Morning News via TNS
President Joe Biden's big promises…
Can you pay 175% interest on a loan in New Mexico? Yes, and it’s legal
NEW MEXICO (KRQE) - This is the kind of transaction you would expect to do in a late night alley. Yet in New Mexico there is a thriving industry that is legally making hundreds of millions of dollars. We are talking about the…
Texas is one of 19 states with student loan debt greater than the entire state budget
Monday, March 1, 2021
Posted
Through Jay Moreno on…
FTC Announces $ 114 Million Settlement With Payday Lenders | Goodwin
On February 11, 2021, the Federal Trade Commission (FTC) announcement a $ 114 million settlement with the owners and operators of a so-called tribal payday loan program. Settlement resolves allegations of defendants' alleged…
Texas Winter Crisis: Ford lends F-150 pickups as generators
Ford dealers loan trucks to desperate Texans to use as generators.
Hundreds of thousands of Texas residents are entering a fifth day without heat or electricity amid a cold-weather crisis that has killed at least two dozen people.…
Utah payday loan rates are the 2nd highest in America. Only Texas is higher.
A study indicates that they cost an average of 652% annual interest. Only Texas is higher.(Leah Hogsten | Tribune file photo) Payday loan rates in Utah are second highest in America, new research shows. Only Texas is higher. |…
Utah payday loan rates are second in the United States. Only Texas is higher.
A study indicates that they cost an average of 652% annual interest. Only Texas is higher.(Leah Hogsten | Photo from the Tribune) New study says payday loan rates in Utah are second highest in America. Only Texas is higher. |…
Preferred Bank announces the opening of a loan production office
LOS ANGELES, February 17, 2021 (GLOBE NEWSWIRE) - Preferred Bank (NASDAQ: PFBC), ("The Bank"), an independent commercial bank, today announced its intention to open a loan production office ("LPO") in Houston, Texas. The Bank has hired…
The map shows a typical APR in each state
In recent months, several states have taken steps to limit interest rates on payday loans to protect consumers from overindulging in these traditionally expensive loans. In the November general election, voters in Nebraska overwhelmingly…