DETROIT – Payday loans paid off in installments rather in one lump sum are significantly less expensive for consumers, carry less rollover for borrowers, and result in a smaller payday loan industry.
Tom Nix shares why it was easier to sell his check cashing firm to a credit union instead of a bank.
In a new tell-all book, the former owner of Nix Check Cashing details his experience with Kinecta Federal Credit Union.
New CFPB study says more than 80% of payday loans are rolled over within 14 days. Study also says one in five payday borrowers collect monthly public benefits.
Center for Responsible Lending report alleges excessive multiple charges, re-ordering to maximize fee income.
Center for Responsible Lending testimony says Florida shows particularly sharp growth, calls for protection from Social Security garnishing.
Luis Peralta has joined Kinecta Alternative Financial Solutions, doing business as Nix Financial, as its new chief operating officer.
Credit Union Times’ recent report about a letter sent by NCUA Board Chairman Debbie Matz to the National Consumer Law Center and the Center for Responsible Lending led me to question the agency’s priorities. I continue to be puzzled by why the NCUA, and especially Matz, expends so much energy...
Consumer advocate's push against credit union short-term lenders hurting those they think they're protecting.
Agency letter promises to find out if five credit unions are staying within NCUA interest rate ceiling.