Latest News
Showing the Latest Community Financial Services Association of America (CFSA) 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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The Hill: Trade Group Threatens to Sue CFPB Over Payday Loan Rules
“While this is an important step in the right direction, the fight is far from over,” Karl Frisch, executive director of Allied Progress, said in a statement. “Payday lenders have spent tens of millions of dollars currying favor with powerful politicians and they will do whatever it takes to keep this predatory racket running. We owe it to hard working men and women everywhere to remain vigilant and fight on until the debt trap is ended once and for all.”
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Advocates Push Back Against Deceptive, Industry- Funded Academic “Research” on Payday Lending
Following the release of an explosive new report revealing how the payday lending industry finances and influences “academic research,” a coalition of consumer advocacy organizations is calling the country’s leading payday lending industry trade group and its member companies to disavow the fraudulent research and sever its ties with the controversial foundation and individuals responsible for orchestrating the studies.
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Report Reveals Suspiciously Timed Contributions from Payday Lenders to Key Members of Congress
Allied Progress details how twelve Congressmen were showered with thousands of dollars in campaign cash by payday lenders within days of taking official actions to benefit the industry.