Today, we held a field hearing on payday lending in Richmond, Va. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but we’ll have a recording available here soon.
Join us for a field hearing in Richmond, Va. on payday lending. The hearing will take place on Thursday, March 26 at 12 p.m. EDT.
Today, we’re posting a semi-annual update of our rulemaking agenda in conjunction with a broader initiative led by the Office of Management and Budget (OMB) to publish a Unified Agenda of Regulatory and Deregulatory Actions across the federal government. Our regulatory agenda includes rulemaking actions in the following stages: pre-rule, proposed rule, final rule, long term actions, and completed actions.
Today, we’re posting a semi-annual update of our rulemaking agenda in conjunction with a broader initiative led by the Office of Management and Budget (OMB) to publish a Unified Agenda of Regulatory and Deregulatory Actions across the federal government. Under the Regulatory Flexibility Act, federal agencies are required to publish regulatory agendas twice a year.
We announced an enforcement action against one of the largest short-term, small-dollar lenders in the country. The company has agreed to reimburse up to $14 million and pay a $5 million penalty for the violations and other misconduct. Read more about the enforcement action.
Payday loans are typically marketed as a way to get quick cash when you need it. They are generally for small amounts due quickly, like on your next payday, and they often give the lender a claim on your bank account. They are sometimes also called cash advance loans. We’ve heard from people who like […]
Starting today, you can submit payday complaints to us. So this seems a good time to remind you that if you are a servicemember on active duty you, your spouse, and certain dependents have the protection of a special law called the Military Lending Act (MLA). The MLA says that you can’t be charged an […]
August is usually a time when military families are wrapping up duty station moves, squeezing in summer vacations, and getting the kids enrolled in school. The hazy days of summer are not exactly the time when military parents (or kids) are thinking about December holiday wish lists, door-buster sales, and gift wrapping. But, believe it […]