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Archive 2018-04-10T21:15:48+00:00

Black Caucus Institute on Small Dollar Lending and Rate Caps

April 15th, 2022|Comments Off on Black Caucus Institute on Small Dollar Lending and Rate Caps

The Annual Report of the 21st Century Council, a working group of the Congressional Black Caucus Institute (CBCI), contains some important observations about access to credit and small dollar lending. It also provides  policy [...]

CFPB BNPL Inquiry Should Focus on Leveling Regulatory Playing Field

April 4th, 2022|Comments Off on CFPB BNPL Inquiry Should Focus on Leveling Regulatory Playing Field

A new report from US PIRG contains findings likely to add a new sense of urgency to the Consumer Financial Protection Bureau’s (CFPB)  investigation into so-called “By Now Pay Later” financing. The report has [...]

Survey Shows New Illinois Lending Law Hurting Consumers

March 4th, 2022|Comments Off on Survey Shows New Illinois Lending Law Hurting Consumers

A recent survey of Illinois borrowers who took out small-dollar loans found that, after Governor JB Pritzker signed a 36 percent annual percentage rate (APR) rate cap into law last March, their financial situation [...]

New Mexicans Speak Out About “Worst Ever” Lending Bill

February 7th, 2022|Comments Off on New Mexicans Speak Out About “Worst Ever” Lending Bill

A new bill in the New Mexico State Legislature is causing concern for customers of the traditional installment lending industry. HB 132 has been described by veteran lenders as “the worst bill that we [...]

US bank branch closures increased 38% in 2021

January 26th, 2022|Comments Off on US bank branch closures increased 38% in 2021

This blog post updates our previous ones on bank closures here and here. As we have noted, advocates of APR price caps for non-bank loans often point to the fact that banks will pick [...]

Senators Brand Postal Banking Experiment Potentially Unlawful

December 21st, 2021|Comments Off on Senators Brand Postal Banking Experiment Potentially Unlawful

A pilot program that would allow the United States Postal Service (USPS) to provide certain financial services has come under fire from a group of 20 US Senators who believe the program “exceeds the [...]