Latest News
Showing the Latest Payday Lending Results
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CFPB Must Closely Scrutinize Comments Opposing Proposed Payday Lending Rule
After payday lenders put spotlight on consumers with remarkably similar “personal” stories, Allied Progress calls for greater scrutiny.
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Huffington Post: Hundreds Of Suspiciously Similar Letters Praise The Payday Loan Industry Ahead Of Crackdown
Hundreds of individually submitted comments to a federal regulator praising the payday loan industry contain identical phrases, like “It was a very efficient process and definitely the most reasonable option for me.”
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New Website Dishes the Dirt on Predatory Payday Lending Industry
“Hardworking Americans deserve to know the truth, which is why we have made our extensive research files into this predatory industry available to the public,” said Karl Frisch.
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FloridaPolitics.com: When Investigating Payday Lending, Knowledge Is Power
Writing in the Tampa Bay Times July 29, Karl Frisch, executive director of Allied Progress, a public interest group opposed to the payday lobby, cited reports that the industry has contributed more than $2.5 million to Florida politicians and political parties since 2009. Nearly $1 million of that came from payday lender Amscot Financial and the family that controls it. Small wonder, then, that so many Florida politicians have been friendly to payday lending. But they know now that the public is on to them.
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Tampa Bay Times: Now We Know What Was Fueling Push to Expand Florida’s Disastrous Payday Lending Model
The push to spread Florida’s disastrous model of payday lending nationally died when two of its chief backers — Reps. Debbie Wasserman Schultz and Patrick Murphy — pulled the plug and instead endorsed the Consumer Financial Protection Bureau’s plan to rein in this predatory industry.
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Groups Praise CFPB on its 5th Anniversary for Making Life “Better for American Families”
Groups say life is better for American families because the CFPB is at work fighting predatory lending and financial abuse.
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“Ability to Repay” Is Key to CFPB’s Proposed Payday Lending Reforms
Broad coalition of groups underscore importance of “ability to repay” requirement in CFPB’s proposed payday lending rule.
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Washington Post: What Regulating Payday Loans Is All About
Suggesting that the Consumer Financial Protection Bureau should bend over backwards to make sure people can get loans that will leave them unable to pay rent or put food on the table fundamentally misunderstands the purpose of regulating payday loans in the first place: to prevent financial devastation.
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FloridaPolitics.com: Advocacy Group That Has Been Slamming DWS on Payday Loans Now Praises Her
Allied Progress, the D.C. based advocacy group that has been blasting Democratic National Committee Chair Debbie Wasserman Schultz for months for her support of of payday lending legislation that the group called “disastrous,” is now praising her. The group placed an a full page ad in the South Florida Sun-Sentinel applauding her and Congressman Patrick Murphy for now backing the Consumer Financial Protection Bureau’s push to rein in the payday loan industry.
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Tens of Thousands Spoke Out Supporting the CFPB on Payday Lending Reform — They Listened
Full page ad in the Sun Sentinel thanking Reps. Debbie Wasserman Schultz and Patrick Murphy for supporting the CFPB’s proposed rule to rein in payday lenders.