Latest News
Showing the Latest Payday Lending Results
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Group Vows to Defend CFPB Payday Lending Rule from Republican Congressional Attacks
Group will fight to protect rule from payday lenders who have spent millions of dollars currying favor with Republicans in Congress.
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WSJ Highlights Payday Industry Effort to Manipulate CFPB Public Comment Process
Payday lenders are using any and all means necessary to avoid regulation.
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Memo to Media: Beware of Shady Payday Industry Sources When Writing Your Stories
Those who opposed this payday lending rule in the past have demonstrated they are not trustworthy sources of information when it comes to this issue.
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Group Launches Investigation into Trump DOJ’s Giveaway to Financial Scammers
Allied Progress launches investigation into Trump administration decision to end the successful Obama-era program Operation Choke Point.
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Trump’s DOJ Gives Payday Lenders and Financial Scammers a Massive Gift
Trump administration scraps “Operation Choke Point” while admitting program uncovered “criminal activity” by predatory lenders.
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New York Times Magazine: The Bureau of Resistance
How long can a progressive federal agency, the Consumer Financial Protection Bureau, stand firm against the deregulatory pressures of the Trump administration?
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The Times and Democrat: Payday Lending Stories Not Real
Eric Peters came out swinging (T&D, Oct. 1) against the Consumer Financial Protection Bureau’s effort to crack down on predatory payday lenders. To bolster his untenable position, he cited the purportedly personal stories of happy payday loan customers submitted to the CFPB and spotlighted by a payday industry-backed special interest group in Washington. Unfortunately, Peters failed to inform readers that hundreds, if not thousands, of the supposedly unique and personal payday loan-supportive stories he pointed to used many of the exact same sentences and paragraphs.
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Politico: Payday-Lending Crackdown Draws 1.4 Million Letters of Protest
“It’s very suspicious,” said Karl Frisch, executive director of Allied Progress, a left-leaning nonprofit. “We’re not just talking about language that’s nice to payday lenders. Or talks about a generic need for a payday loan. We’re talking about specific experiences that are repeated in letters.”
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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.