Lending

Assuming the city's mayor and the U.S. Congress goes along, Washington, D.C. will have capped the interest payday lenders in the city can charge to no more than 24%, the same cap that other financial institutions chartered by the city face.

Acting Secretary of Banking Steve Kaplan told lawmakers today that Pennsylvania needs laws to test and license mortgage professionals and to protect consumers from unscrupulous loan practices.

The fight over the attempt to cap payday lending interest in the District of Columbia at 24% may have implications for the nationwide debate over the controversial business, according to industry opponents and observers.

The three former employees of Check 'n Go in Washington, D.C. were not fired from their jobs, according to a policy counsel with the Center for Responsible Lending.

The three former employees of Check 'n Go in Washington, D.C. were not fired from their jobs, according to a policy counsel with the Center for Responsible Lending.

As an article in Saturday's Denver Post took note of some Colorado credit unions' exposure to mortgage loans, including the "troubles" at Norlarco in Fort Collins, where loans in Lee County Florida make up 20% of the portfolio (with $70 million in default) two mortgage-centered CU associations are meeting here...