Recent Blog Posts
“This Can’t Be Legal”
NPR is out with a report on the debt trap caused by payday lending loan sharks:
A few years ago, a man came to pastor Wes Helm at Springcreek Church in Garland, Texas, and opened up about his financial troubles. Helm looked through the man’s budget and noticed one major monthly expense: a payday loan fee three times more than the amount of the... [Read more]
Taking on Payday Predators
It’s a fight we can win. The fight to rein-in legalized loan sharks and stop the cycle of debt so often associated with payday and car title loans. Newschannel5 reports on our efforts to advocate for a strong rule from the CFPB on payday and car title loans:
For more on payday lending and stopping legalized loan sharks, follow @TNCitizenAction
Leave... [Read more]
Stopping the Debt Trap
Tennessee Citizen Action joined with consumer advocacy groups across the nation to push the Consumer Financial Protection Bureau to adopt a strong rule to rein-in payday and car title lenders.
That action is drawing attention. A recent story in American Banker notes:
“The very nature of this business depends on people borrowing and then re-borrowing... [Read more]
A Fight We Can Win
Yesterday, the Consumer Financial Protection Bureau released a proposed rule designed to rein-in payday and car title loan sharks.
We are pleased with this first step toward providing relief from the cycle of debt so many borrowers find themselves in after being preyed upon by payday predators.
As the rule was being released, we released a report... [Read more]
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