Consumer finance

How a state bank could challenge payday lenders

Earlier in the pandemic, West Coast states led the way in providing financial assistance to marginalized populations excluded from federal stimulus and relief plans. In Washington, Governor Jay Inslee Made $ 40 Million helping undocumented families. Oregon has implemented the Oregon Workers Relief Fund to alleviate the financial burden of …

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CFPB Overcomes Payday Loan Rule Challenge | Goodwin

On August 31, 2021, the United States District Court for the Western District of Texas issued a notice maintaining the Consumer Financial Protection Bureau (CFPB) rule regulating payday loans. Community Financial Services Association of America, LTD., Et al. v. CFPB, Case No.1: 18-CV-00295 (WD TX.) (Community v. CFPB). As a …

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BNPL could be the next payday loan fiasco, experts warn

Buying Now, Paying Later (BNPL) is serious business. FinTech companies are emerging at an unrelenting rhythm, offering interest-free installment online purchase refunds. The typical shopping experience, say on a pair of £ 30 shoes, looks like this: Klarna offers you to pay in three monthly installments of £ 10. Laybuy …

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Native Americans Strike Back Against Tribal Lenders

Native Americans are taking a stand on behalf of tribal lenders amid an attack by special interest organizations attempting to bankrupt local businesses serving an often overlooked community. A Native American advocacy group says opponents of tribal loans are promoting a “false and often racist narrative.” For years, the National …

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