Black & Blackburn: Loan Shark Defenders

U.S. Representatives Diane Black and Marsha Blackburn today voted for a bill that could override existing state laws that protect consumers from high-interest, short-term loans. Both are seeking statewide office in Tennessee in 2018. More specifically, the U.S. House of Representatives today approved HR 3299 by a vote of 245 to 171. This bill could […]

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Interest Rates Higher than 390%? Kustoff Says YES!

February 13, 2018 by  
Filed under Issues, Payday Lending, Recent Blog Posts

Apparent friend of legalized loan sharks Rep. David Kustoff of Tennessee’s 8th Congressional District apparently thinks payday predator interest rates of 390% aren’t high enough. Kustoff voted for H.R. 3299 in the House Financial Services Committee. This legislation would allow out-of-state and online lenders to “Rent-a-bank” and circumvent Tennessee’s caps on interest rates. That could […]

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A Leash on the Consumer’s Watchdog?

The Trump Administration’s budget is out and it contains a new attack on the Consumer Bureau (CFPB). The plan would shift funding from the Federal Reserve to Congressional Appropriations, effectively allowing industry lobbyists to determine how strong the CFPB is. Our friends at Consumer Federation of America have more: Today, the White House announced a […]

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$5.8 Billion in Lost Wages

February 11, 2018 by  
Filed under Issues, Recent Blog Posts, Workers Rights

That’s the potential impact of a new rule proposed by the Trump Administration that amounts to tip theft, plain and simple. Heidi Shierholz of the Economic Policy Institute explains more in recent comments to the Department of Labor: EPI’s Heidi Shierholz submitted comments to the Labor Department on its proposal to allow employers to pocket the tips […]

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Use Your Voice to Stop Payday Predators

February 8, 2018 by  
Filed under Issues, Payday Lending, Recent Blog Posts

TAKE ACTION: The House of Representatives is poised to open a huge loophole in state interest rate caps and the right of state voters to enact rate caps, effectively giving the green light to payday lenders to charge debt trap interest rates to low-income consumers without having to abide by state laws.   HR 3299 […]

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Survey: Consumer Bureau Gets the Job Done

Results of a recent survey published by our friends at the National Association of Consumer Advocates (NACA) show the Consumer Financial Protection Bureau has been living up to its mission: In its six-year existence, the Consumer Financial Protection Bureau (CFPB) has proved itself integral to curbing predatory lending and other practices that harm American consumers […]

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Sabotage

From a press release: Today, U.S. Senator Jeff Merkley (D-Ore.) and Rev. Willie Gable Jr. of Louisiana joined Yana Miles from the Center for Responsible Lending and José Alcoff from Americans for Financial Reform to highlight how Mick Mulvaney has sought to undermine the Consumer Financial Protection Bureau (CFPB) and the impact Mulvaney’s sabotage is […]

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Unpresidented

February 7, 2018 by  
Filed under Recent Blog Posts

It’s Unpresidented!   Our February fundraiser, that is!   We’re hosting a President’s Day Happy Hour and celebrating MOST of our nation’s 45 Presidents. We’ll also celebrate a year of resistance to number 45 and look ahead to state and federal fights we must win this year!   UNPRESIDENTED Our 2018 President’s Day Happy Hour […]

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Equifax: Mulvaney’s Cash Machine

Our friends at Allied Progress with more on Mick Mulvaney and his tendency to let bad actors (who also happen to be campaign donors) get away with harming consumers: “It is deeply disturbing though not surprising that Mick Mulvaney has decided to reverse course and go soft on Equifax – a company that failed to […]

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US PIRG on Equifax and Mulvaney

Our friends at US PIRG (Public Interest Research Groups) out with a statement on Mick Mulvaney letting Equifax off the hook: Widespread media reports that the CFPB acting director, Mick Mulvaney of OMB, is dropping its investigation into the Equifax breach leave its 145 million consumer-victims with nowhere to go. Only the Consumer Bureau has […]

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