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“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

- Assistant Attorney General Bill Baer, Justice Department Antitrust Division (2015)

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

- Muhammad Yunus, Banker to the Poor (1999)

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

-Richard Cordray, CFPB, Birmingham, AL (Jan 2013)

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”

- Pew Charitable Trusts

Denver Post: “Poor people are stupid and need Proposition 111”

October 2nd, 2018|Comments Off on Denver Post: “Poor people are stupid and need Proposition 111”

A ballot initiative in Colorado that would impose a 36 percent APR limit on payday loans has attracted some tongue-in-cheek comment from Denver Post columnist Jon Caldara. His column is likely to strike a [...]

The BCFP/CFPB and Installment Lending

September 21st, 2018|Comments Off on The BCFP/CFPB and Installment Lending

PART 2: INVESTIGATIONS AND THE “PAYDAY RULE”  Soon after the CFPB was established, its examination of areas it considered sources of concern in financial services resulted in official investigations, with some sources claiming that [...]

Operation Choke Point

September 5th, 2018|Comments Off on Operation Choke Point

The now notorious Justice Department initiative known as Operation Choke Point, began in 2013, reportedly after a long and involved meeting at the White House. It is seen by many as an attempt by [...]

Rep. Luetkemeyer Calls For Investigation After Unsealed Court Docs Reveal Operation Choke Point May Not Be Dead https://t.co/XV6AvKvulf via @mikecanvasbusin

Episode 3 of our podcast AFSA Today is here! Danielle Fagre Arlowe, the Senior Vice President of AFSA, talks about proposed legislation impacting AFSA member companies at the state level: https://t.co/hEK4xxrGoB

We have a blog now to give you the latest in a quest for a #afinlitfuture, hope you enjoy the latest in the world of #FinancialLiteracy https://t.co/rnc2btYl8u

NOT before time! CFPB to Define ‘Abusive’ Acts by Financial Firms https://t.co/krf3HVaqPi via @WSJ

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