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

Installment Lenders are Essential During the COVID-19 Epidemic

March 26th, 2020|Comments Off on Installment Lenders are Essential During the COVID-19 Epidemic

At times of economic turmoil, access to financial services, particularly for the most vulnerable who do not have banking relationships, is essential to minimizing hardship and setting the stage for eventual recovery. Recognizing this, [...]

The Economist: Capping Interest Rates Leads to More Debt and More Default

March 13th, 2020|Comments Off on The Economist: Capping Interest Rates Leads to More Debt and More Default

A recent piece in The Economist, made a number of points about payday loans, including the fact that they are rarely paid off in a single payment as intended; most are rolled over [...]

APR caps are a deeply flawed regulatory tool….

March 6th, 2020|Comments Off on APR caps are a deeply flawed regulatory tool….

Under the Truth-in-Lending Act (TILA), the purpose of the Annual Percentage Rate (APR) is to provide borrowers and regulators with a common comparator across all loan products. In 1968, when the TILA was first passed, [...]

AFSA Calls out Center for Responsible Lending for “Rigged Poll”

February 25th, 2020|Comments Off on AFSA Calls out Center for Responsible Lending for “Rigged Poll”

A recent opinion piece in The Hill by the American Financial Services Association’s (AFSA) Bill Himpler, called out the Center for Responsible Lending (CRL) for the release of a poll that purported to show [...]

Black Caucus Condemns Debt Settlement Companies

January 17th, 2020|Comments Off on Black Caucus Condemns Debt Settlement Companies

Our piece on The Scourge of Debt Settlement Companies, warning of the dangers to borrowers of companies that  propose to settle debts for less than borrowers owe, but actually cause immense harm to those [...]

NPR Confused by APR

December 18th, 2019|Comments Off on NPR Confused by APR

A recent story on National Public Radio (NPR) on the prospects of enacting Federal APR caps on consumer loans, focused quite rightly on challenges associated with balloon-payment payday and title loans (A Ban on [...]