Who are the companies lending money to the payday loan lenders? They are the banks, of course. They are certainly not lending to families and small business. In fact, these are the same banks who were bailed out by the government. There are published reports where you will find quotes from these very bank lenders … Continue reading "Who Are The Banks Lending To? Can You Really Believe What You Hear?"
This Winter on December 21, the Consumer Financial Protection Bureau (CFBP) will open its doors. This agency was created as part of the Dodd-Frank financial reform law, and will have the power to regulate payday lenders. With the creation of this new agency it is no surprise that payday lenders have more than doubled their … Continue reading "Financial reform update for payday lenders"