A Mississippi businessman, indicted in connection with bribes paid in exchange for prison contracts, made $198,000 between 2012 and 2014 as a lobbyist for the state’s payday loan and check cashing industries.
In recent online focus groups, Federal Reserve researchers presented 44 small-business owners with basic information about a loan and asked them to estimate the interest rate. The business owners' responses were telling.
The Sixth Circuit Court of Appeals has ruled that a debtor providing a cell phone number to a creditor has consented to receiving calls and thus the creditor doesn't violate the TCPA by making repeated, automated calls to that number seeking payment.
The CFPB is considering suing Navient Corp., the largest student loan company in the U.S., for allegedly cheating borrowers. Navient officials disclosed Monday in a Securities and Exchange Commission filing.
A proposal from city council members in Arlington, Texas would impose stronger restrictions on payday and auto title lenders, including limiting where and in what type of buildings they can do business.