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

STUDY REVIEW: Consumer Borrowing after Payday Loan Bans

September 14th, 2020|Comments Off on STUDY REVIEW: Consumer Borrowing after Payday Loan Bans

NILA members do not make payday loans, offering instead, traditional installment loans which are generally considered a safe and affordable alternative to payday or title products. Despite this critical difference, legislative and regulatory efforts [...]

Congress Must Remove Rate Caps from Bills That Boost US Economy 

September 8th, 2020|Comments Off on Congress Must Remove Rate Caps from Bills That Boost US Economy 

Mitigating the economic effects of COVID-19 policy is the focus of much effort at the national level, including the worthy bipartisan and bicameral legislation, the Jobs and Neighborhood Investment Act. These bills, H.R. 7709 [...]

Fed Article Acknowledges that APR Caps Harm Consumers

August 19th, 2020|Comments Off on Fed Article Acknowledges that APR Caps Harm Consumers

An article released last Wednesday (August 12, 2020) by the Federal Reserve Board of Governors, provides strong support for NILA’s position that consumers suffer when small dollar loan availability is limited by caps on [...]

Guest Post: Cognitive Dissonance and APR Caps

July 28th, 2020|Comments Off on Guest Post: Cognitive Dissonance and APR Caps

By Andrew Morrison, Sun Loan Company There was an excellent article in The Atlantic this month on The Role of Cognitive Dissonance in the Pandemic. Its focus, naturally, was on the refusal among certain [...]

WSJ: SCOTUS’ Missed Opportunity on CFPB

July 21st, 2020|Comments Off on WSJ: SCOTUS’ Missed Opportunity on CFPB

A recent US Supreme Court ruling on the Consumer Financial Protection Bureau (CFPB) was the subject of a critical editorial in the Wall Street Journal (WSJ) (The Court’s Missed Opportunity on Consumer Financial Protection, [...]

CFPB Payday Rule Revision

July 13th, 2020|Comments Off on CFPB Payday Rule Revision

The release last week (July 7, 2020) of the Consumer Financial Protection Bureau’s  final “Payday, Vehicle Title, and Certain High-Cost Installment Loans” rule is significant in that it removes the "ability to repay" provisions that [...]