Category Archives: 5000 payday loans

Assaults on Payday Lending: Ballot Initiatives, Legislation, and Attorney General Enforcement

On October 26, 2018, the Bureau of customer Financial Protection issued a general public statement announcing so it promises to issue proposed guidelines in January 2019 reconsidering its Payday, Vehicle Title, and Certain High-Cost Installment Loans rulemaking. A shift is suggested by this reconsideration when you look at the Bureau’s mindset towards short-term financing, and loan providers may be more hopeful about the future of the industry. But care remains prudent, as present state activity shows that the battle against payday lending is far from over, with states using aim at the industry through ballot initiatives, legislation, and lawyer basic actions. Continue reading