payday loans

Office of Management and Budget Director Mick Mulvaney is also the interim director of the Consumer Financial Protection Bureau.

Trump Administration Plans To Defang Consumer Protection Watchdog

5:53pm February 12, 2018

by Chris Arnold

The new head of the Consumer Financial Protection Bureau is making the agency less aggressive in its mission. A new plan calls for it to fulfill "its statutory responsibilities, but go no further."

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Mick Mulvaney, a former Republican lawmaker and current White House budget chief, was also picked as interim head of the Consumer Financial Protection Bureau.

Under Trump Appointee, Consumer Protection Agency Seen Helping Payday Lenders

6:25pm January 24, 2018

by Chris Arnold

As a congressman, Mick Mulvaney accepted donations from payday lenders. Now he's in control of the Consumer Financial Protection Bureau, which has delayed implementing payday lending rules.

A woman enters an All American Check Cashing location in Brandon, Miss., in May. The Consumer Financial Protection Bureau has proposed new rules to crack down on such lenders.

Economy

Consumer Watchdog Proposes New Rules On Payday Lenders

1:41pm October 06, 2017

by Scott Neuman

Regulations proposed by the Consumer Financial Protection Bureau would require lenders to determine whether customers can repay within 30 days before issuing a loan.

Gordon Martinez (left), leader of the group Faith in Texas and payday loan borrower, marches before a Consumer Financial Protection Bureau field hearing in Kansas City, Mo., on June 2.

With Payday Loans Burying Borrowers, Community Tries Alternatives

3:53pm June 16, 2016

by Yuki Noguchi

Some experts say there are better, cheaper alternatives for getting small dollar loans than payday loans, which are often cash sources of last resort.

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Payday lender ACE Cash Express is seen on San Mateo Boulevard in Albuquerque, N.M. High-interest lending practices are being targeted by new federal regulations.

New Rules To Ban Payday Lending 'Debt Traps'

2:47pm June 02, 2016

The Consumer Financial Protection Bureau on Thursday is announcing proposed regulations that aim to stop some predatory lending practices.

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National

Google Announces It Will Stop Allowing Ads For Payday Lenders

1:39pm May 11, 2016

by Camila Domonoske

The search giant prohibits ads for dangerous, counterfeit and offensive items, among other things. Now it will also ban ads for loans due in less than 60 days, or with an APR of 36 percent or more.

Payday Loans — And Endless Cycles Of Debt — Targeted By Federal Watchdog

3:00pm March 30, 2015

by Scott Horsley

The Consumer Financial Protection Bureau is readying new regulations on payday loans and other high-cost forms of credit. Officials with the agency say the loans can trap borrowers in a cycle of debt.

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