Links in “Payday Lending/Money Services Businesses”

Some states taking new tack by going after banks that allow payday lenders to make withdrawals from borrowers' accounts. [8/21]

With attacks on payday lenders, Bitcoin, consultants, and debt collectors, NY's Lawsky is leading many initiatives and in some cases "shaming less aggressive regulators." [8/15]

NY Attorney General joins crackdown on three online lenders and their owners, alleging they have made nearly 18,000 loans to New Yorkers totaling $38 million in principal since 2010, on which the borrowers owe more than $185 million in finance charges. [8/13]

UDAAP related type judgment against online operation for $9.5 million. Good template review of practices provided in complaint. [7/31]

Partial settlement against EFTA and UDAAP violations on payday lender with additional ruling that affiliated American Indian Tribe entities remain under coverage of TILA, FTC Act (UDAAP) and EFTA. [7/22]

Among other items on CFPB's docket: consumer outreach and research on debt collection issues and payday lending. [7/8]

[Video] Unintended consequences of driving reputable lenders from this marketplace. [6/20]

DOD seeks comments on whether further limitations should be placed on payday loans and auto title loans to servicemembers and their dependents, noting that some predatory lenders have modified their products to avoid the limitations under current law. [6/17]

Animation follows "Jennifer," one of 12 million Americans who take out payday loans every year. [6/17]

NCUA has identified nine credit unions that may be violating the agency’s payday lending rule; five are referring members for a fee to a CUSO that is charging rates in excess of the 28% NCUA cap. [6/7]