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Read MoreThese two sections of the Dodd-Frank Act directly impact the payday lending industry: 1024 – Supervision of Nondepository Covered Persons This section grants rule-making and enforcement power over payday lending to the newly created Bureau of Consumer Financial Protection. 1205 – Low-cost Alternatives to Payday Loans This section will provide funding & support to “entities”…
Read MoreThis article, from the Washington Independent, discusses the payday lending industries past lobbying efforts that have effectively stopped regulation of the payday loan industry from taking place. But now with the Dodd-Frank Act and it’s creation of the Consumer Financial Protection Bureau, with full rule-making and enforcement authority over payday lenders, it appears that payday…
Read MoreThese “informational” websites are all sponsored/funded by members of the payday loan industry: Community Financial Services Association Payday Pundit’s Blog Online Payday Loans
Read MoreThese groups all work on Payday Lending issues: National Consumer Law Center Consumer Media Center for Responsible Lending Americans for Fairness in Lending AARP Consumer Federation of America
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