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Big Hype about Coming US Payday Loan Rule

In a few days CFPB (Costumer Financial Protection Bureau) is going to release a new payday loan rule, which is expected to restrain payday lending industry. Not long ago final review by other civil agencies was concluded, so there are many people who are pretty familiar with the matter. So payday loan industry is in Read more…

Feds Looks for New Rules against Payday Lenders

It was reported new federal rules are going to be released soon. Their aim is to curb the payday loans. The supporters of the severe measures say the states should still be cautious. The Consumer Finance Protection Bureau initiated the rules and expects the lenders verifying the main information from the potential borrowers, including their Read more…

It Happened! New Rules for Payday Loans

5th of October 2017 will be marked black for those who worked in payday lending industry because new regulation rules come into force and will take effect till July 2019. According to consumer advocates, these rules will help indebted citizens to get out of debt hole. Here is frequent Q&A about payday loans 1) What Read more…

Leaders of Religious Organizations Made a Proposal to Change the Interest Rate for Payday Loans

The proposal for constitutional amendment was introduced by religious leaders in Florida. They want to make changes in the current interest rate for payday loans. According to their opinion, now the acting percentage level is not correct, it should be 30 percent. Main reason The proposal was made last month by Bishop Adam Jefferson Richardson. Read more…

Consumer Financial Protection Bureau Uses Its Popularity to Battle with Republicans

Nowadays Consumer Financial Protection Bureau (CFPB) deals with grave difficulties due to the election of Donald Trump. Used to President Obama’s policy consumer protection agency determined not to lose its influence. But Republicans are determined too. The situation is much complicated due to new payday loan rule initiated by the agency in July 2016. Head Read more…

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