Tag: payday loans

We must close payday loan debt trap once and for all

We must close payday loan debt trap once and for all

| October 11, 2016

By Julianne Malveaux (NNPA Newswire Columnist) Between the unemployment rate report that was released in early September and the Census report on income and poverty that was released on Sept. 13, President Obama and his team got great news about the economic status of the average worker. Incomes are up a whopping 5.2 percent between […]

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Google bans payday, other predatory loan ads

Google bans payday, other predatory loan ads

| June 12, 2016

By Charlene Crowell (NNPA News Wire Columnist) For more than a decade, broad-based coalitions at both the state and federal levels have united consumer advocates, labor, clergy, civil rights champions and others in calling for an end to predatory lending. Although 16 states and the District of Columbia effectively ban payday lending, the majority of […]

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Ohioans lose more than $500 Million to payday, car title loan fees

Ohioans lose more than $500 Million to payday, car title loan fees

| November 24, 2015

By Charlene Crowell NNPA Columnist Despite a landslide voter decision in 2008 to cap payday lending rates at 28 percent, the state’s small-dollar, high-cost lending has continued to grow and now doubles the amount of fees charged a decade ago. Each year Ohio consumers who only needed a small dollar loan wind up with more […]

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Congress urges stronger action against payday loan vendors

Congress urges stronger action against payday loan vendors

| July 27, 2015

Charlene Crowell By Charlene Crowell NNPA Columnist The Federal Trade Commission (FTC) will provide $32 million in relief to consumers who were caught in a maze of charges and fees designed to trap them in payday loans they never authorized. The enforcement action announced July 7, affects two lenders based in Kansas City, Mo., who […]

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Financial predators still target active duty military

Financial predators still target active duty military

| May 16, 2015

By Charlene Crowell NNPA Columnist The men and women who wear our nation’s uniform are expected to defend our nation at home and abroad. Yet, when it comes to financial services, service members are not always been protected in return. The 2006 Military Lending Act (MLA) was enacted with broad and bipartisan support as a […]

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Poor communities lose billions to ‘predatory’ lenders

Poor communities lose billions to ‘predatory’ lenders

| February 2, 2015

By Freddie Allen NNPA Senior Washington Correspondent WASHINGTON (NNPA)–Predatory lenders continue to target poor, black and Latino communities, siphoning off $103 billion in fees and interests every year, and the rest of us are paying for it, according to a recent report by United for a Fair Economy. “This is more money lost in poor […]

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Growing push to stop payday loan debt trap

Growing push to stop payday loan debt trap

| November 12, 2014

By Charlene Crowell NNPA Columnist In recent weeks, a consistent drumbeat against predatory lending small dollar loans has reached regulators and legislators alike. Broad consensus on the real-life harms caused by these lending products has united consumers in all 50 states and forged an unprecedented call of concern linking 467 organizations including civil rights leaders, […]

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