Payday loans can provide a quick cash option for people who may be experiencing financial troubles or a pressing emergency. At the same time, though, they also come with extremely high interest rates that trap borrowers in a cycle of debt. In 2006, Congress passed the Military Lending Act, which capped interest rates on payday […]
Interest rate limits proposed for veterans
Christopher Peterson, professor of law at the University of Utah and member of the Consumer Federation of America, talks about the bi-partisan proposal of an interest limit on loans to military veterans — and wonders why payday lending interest limits aren’t available for everyone.
Jubilee USA Network stands up for the poor
The poor are often taken advantage of because of their financial situation, whether it is a poor person or a poor country. Jubiliee USA Network works to build a world-wide economy that serves, protects, and promotes the most vulnerable. Jan Miyasaki speaks with Eric LaCompte, Executive Director, about payday loans, the Puerto Rico financial problem, and […]
Will New Regulations Fix America’s Predatory Lending Problem?
Predatory lending is a national problem. But is the solution simply more regulation? Matt Stannard of Commonomics USA says it’s time to fight for public finance alternatives to payday loans.
Could New Payday Loan Rule Have Unintended Consequences?
A federal watch-dog agency proposed new rules Thursday designed to rein in predatory lending. But will they make it harder for millions to access credit in a pinch? Darien Lamen reports.
