Characterizing payday lending as a form of “economic servitude,” Georgia Insurance Commissioner John Oxendine vowed Monday to fight legislation that would legalize the high-interest loans.
Proposals to close loopholes in tough new restrictions on easy payday loan lenders are headed for the House floor, after winning approval from members of the House Consumer Protection Committee Wednesday.
Consumer advocates don’t plan to lobby lawmakers this session for a bill targeting personal cash loan lenders. They say they don’t need to, thanks to a recent decision by federal regulators.
The Center for Responsible Lending has published a critique of major analytical flaws in a new working paper Defining and Detecting Predatory Lending on payday loans by Federal Reserve economist Donald P. Morgan of the Federal Reserve Bank…
Mitzi Rivers stood before a crowd of about 20 bankers and credit union leaders - people who lead boards in Wichita and make headlines in The Wichita Eagle - and told them her personal story of payday loans.