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

Bank Branch Closures Continue Apace

July 1st, 2021|Comments Off on Bank Branch Closures Continue Apace

The latest S&P Global Market Intelligence statistics for bank branch closures shows U.S. banks and thrifts opened 101 branches and permanently closed 200 in May. This left 82,474 active U.S. branches as of May [...]

Jamie Dimon and Jane Fraser: Doubts about 36% Rate Cap  

June 16th, 2021|Comments Off on Jamie Dimon and Jane Fraser: Doubts about 36% Rate Cap  

In a May 27 Virtual Hearing of the US House Financial Services Committee, Bank CEOs Jamie Dimon (JPMorgan Chase) and Jane Fraser (Citigroup) expressed doubts about a blanket 36 percent APR cap, currently under [...]

AFSA Files Lending Lawsuit in Illinois

June 16th, 2021|Comments Off on AFSA Files Lending Lawsuit in Illinois

On June 2 the Illinois Financial Services Association and the American Financial Services Association (AFSA) jointly filed a lawsuit against the State of Illinois and the Illinois Department of Financial and Professional Regulation (DFPR) [...]

APR Rules on Short-Term Loans are Misleading (Boston Herald)

June 3rd, 2021|Comments Off on APR Rules on Short-Term Loans are Misleading (Boston Herald)

A recent opinion piece in the Boston Herald underscored what NILA has consistently pointed out to policymakers, journalists and others – that the requirement to disclose Annual Percentage Rates (APR) for short term loans [...]

Illinois Lending Law: “Gonna really hurt a lot of people.”

May 28th, 2021|Comments Off on Illinois Lending Law: “Gonna really hurt a lot of people.”

The Illinois "Predatory Loan Prevention Act" has closed has closed down safe and affordable credit options alongside riskier ones. In our latest in a series of videos, showcasing the opinions of former users of traditional [...]

Illinois Predatory Loan Prevention Act: “I’ve got a lot of hospital bills”

May 24th, 2021|Comments Off on Illinois Predatory Loan Prevention Act: “I’ve got a lot of hospital bills”

The Illinois "Predatory Loan Prevention Act" has closed has closed down safe and affordable credit options alongside riskier ones. This latest video features Mr. S, of Sterling,  speaking out about Illinois’ new lending law.   [...]