March 2021

Anyra Cano Valencia was having dinner with her husband, Carlos, and their family when an urgent knock came to their door. The Valencias, pastors of the Iglesia Bautista Victoria en Cristo in Fort Worth, Texas, opened the door to a…

Protesters stand outside the headquarters of the Consumer Financial Protection Bureau in Washington, DC on November 28, 2017. (Reuters / Youri Gripas) To subscribe to The nation Subscribe now for as low as $ 2 per month!…

Anyone who's grappling with the rising cost of living knows very well how hard it is to try to stretch your dollars when there are more months than money in the household. Predatory loans, like payday loans and auto loans, compound…

The Consumer Financial Protection Bureau is expected to eliminate underwriting requirements in a long-awaited overhaul of its payday lending rule, according to sources familiar with the bureau's proposal. The CFPB expressed interest in…

Mickey Mays, the managing partner of Thrifty Loans in Ruston, Louisiana, said his business is expected to close most or all of its 18 stores, which employ 35 people, if the rules take effect. Thrifty's profit margins are already slim, he…

Federal regulators are setting new rules for banks that…

It may sound axiomatic, but it is rarely said out loud: businesses that depend on the poor need the economic system to keep producing the poor in order to survive. You almost have to applaud the payday loan industry for finally…

Four federal regulators on Wednesday released new guidelines that provide a consistent framework for banks and credit unions on how to offer low dollar consumer loans without raising red flags in Washington.The Federal Deposit Insurance…

VSexhausting expensive and predatory loans is not only desirable, it is imperative. It's hard enough being poor and paying a poverty premium on utilities and other basic necessities, let alone not being able to get cheaper credit that…

For the foreseeable future, “normal” life will be suspended indefinitely due to the global pandemic known as the coronavirus. Record job cuts in March prompted the Labor Ministry to report that 10.4 million consumers lost their jobs…

A person walks past the New York Stock Exchange on November 16, 2020, in New York City. (Photo by Angela Weiss / AFP via Getty Images) To subscribe to The nation Subscribe now for as low as $ 2 per month! Thank you for…

For the publisher:Re “Mr. Trump's Payback for Payday Lenders” (editorial, February 13):Like many well-intentioned regulatory measures, the Consumer Financial Protection Bureau's regulations for payday lenders - which the Trump…

LONDON, December 18, 2020 / PRNewswire / - Ready Money Capital Limited, a well-known financial solutions provider, now offers tailor-made financial solutions for everyone. The financial services provider places great importance on data…

The Consumer Financial Protection Bureau is poised to score a big win for payday lenders, following a three-year effort to reduce underwriting requirements for high-cost loans.Yet the CFPB's final pay rule, which was expected as early as…

Updates to the letterSign up for myFT Daily Digest to be the first to know about Letter news. Your article says that US President Joe Biden hired Rohit Chopra to lead the Consumer Financial Protection Bureau (“Battle Looms for Sub-Risk…

Mno one will be sorry to hear that Britain's largest payday lender, QuickQuid, is going to close, just over a year after the industry's best-known actor, Wonga, went bankrupt. But if you are in dire need of a little cash for a short period…