Payday Loan Reform Won't Kill Short-Term Credit - Just Make It Safer
Critics of the Consumer Financial Protection Bureau's proposals to rein in payday loans argue that onerous requirements could force many lenders to shut down, leaving cash-strapped Americans with few options for short-term credit. But the truth is payday loans often leave low-income borrowers in even worse straits.  more »
Adam Rust is the research director at Reinvestment Partners.
Richard Hunt is president and CEO of the Consumer Bankers Association.
March Madness office pools are in full swing. While sports analysts provide ample entertainment, their predictions have time and again forced me to shell out to my victorious colleagues. For this reason, I shut out the chatter and focus on the stats. more »
Michael Staten holds the Take Charge America endowed chair at the University of Arizona.
The news that the three largest credit bureaus will reform their practices has been hailed as an important step in improving credit-report accuracy. But while the procedures offer greater protection and more transparency, will they truly bring about a significant decline in serious reporting errors? more »
Neil Librock is a managing director at the Berkeley Research Group.
Subprime consumer lending has reached its highest levels since the beginning of the financial crisis. Is the business, having failed to heed the lessons of the financial crisis, primed for another disaster? more »
There are three main areas that collections managers have to concern themselves with when receiving a new placement to work: compliance considerations, contact information and ability to pay. more »
The surprising part of a recent report on U.S. stress tests is not that Deutsche Bank and Banco Santander might fail, but that large banks manage to pass any country's stress tests at all. more »
A North Carolina newspaper published an editorial this week stating that state law, the Affordable Care Act and a series of articles published in 2012 has led nonprofit hospitals in North Carolina to become less aggressive in pursuing former patients who can’t pay their bills. more »
Leslie Parrish is the deputy research director at the Center for Responsible Lending.
Many colleges partner with banks to offer their students special accounts through exclusive bank-school marketing arrangements. Unfortunately, the benefits afforded to students through these accounts are grossly overstated, while the potential harm the arrangements cause can be significant. more »
Nick Bourke is director of the small-dollar loans project at The Pew Charitable Trusts.
The Consumer Financial Protection Bureau can learn a lot from the Centennial State. more »
Ellen Seidman is senior fellow and Wei Li is senior research associate at the Urban Institute.
The traditional method of measuring mortgage denial rates is fundamentally flawed and can produce mistaken conclusions about access to credit. more »
A TOUCH OF CLASS: Bess Myerson, shown here in 1957, believed Citi owed it to consumers to assign promising employees, rather than the lower performers, to its debt-collection unit.
Revising the promissory note had taught Bess Myerson that Citi’s collection unit tended to engage in strong-arm processes with a singular mission to collect debts by hook or crook. So she shifted her attention to reforming the way that collectors interacted with delinquent customers. more »
Kenneth A. Posner is chief of strategic planning and investor relations at Capital Bank Financial Corp.
Alternative online lenders have been thrust into the limelight with the recent initial public offerings of Lending Club and OnDeck. Industry leaders are confident about their ability to change the way that people borrow money. more »
B. Dan Berger is president and chief executive of the National Association of Federal Credit Unions.
It is hard to believe that more than a year has gone by since Target disclosed a massive data breach — and harder still to accept that consumers face a new holiday shopping season without the benefit of national standards on data security and breach notification safeguards for retailers. more »

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