Consumer Financial Protection Bureau details incidents of “unscrupulous lenders” not honoring Electronic Fund Transfer Act.
Sen. Ed Markey (D-Mass.) questions information shared by lead generation practices.
A consumer coalition voiced support to federal financial regulators attempts to prevent payday lenders from using the electronic check system to debit their customer's checking accounts for loan payments.
Group of groups call for regulator attention to payday lenders using automatic check debits.
Personal loans still offer niche, participants say, and a way to serve members while competing with payday lenders.
This preview from our Aug. 28 print edition looks at what may be a shrinking credit union market for $600 and under loans.
Despite the apparent financial pain to cover the underwriting costs of small loans under $600, some credit unions still feel there is a segment of their membership that rely on this type of financing. Others don't.
The traditional mental picture of credit counseling has an adviser and a client sitting together. The look-them-in-the-eye, get to really know them idea.