Thank you for visiting the Consumerist Archives

Right right Here you’ll find 12 years worth of articles on sets from how to prevent dodgy frauds to composing a complaint letter that is effective.

payday lending

Missouri AG Shuts Down Eight Online Payday Lenders Running From Southern Dakota Reservation

Significantly more than 6,300 Missouri residents will get refunds or have their debts voided after the state’s attorney general reached an understanding by having an online payday loan provider according to a Sioux booking in Southern Dakota. More

On Line Payday Lending Organizations To Cover $21 Million To Be In Deception Charges, Must Waive $285M In Loans

It’s no key that payday lending companies charge high interest levels and a butt-load of costs for his or her tiny buck, short-term loans. Payday financing businesses break federal rules by perhaps maybe perhaps not being upfront concerning the often fees that are highly inflated charge. The FTC today jumped in to block two online payday financing businesses from preying on customers because of the highest fine ever levied against a lender that is payday. More

Protecting Military Servicemembers From Predatory Loans Is Really a nationwide Protection Problem

In modern times, we’ve written a quantity of tales about regulations directed at protecting active-duty servicemembers and their loved ones from predatory loans and also the businesses that you will need to make the most of loopholes in these guidelines. Some visitors have actually expected why people in our military merit defenses maybe perhaps perhaps not offered to civilians. But this is certainlyn’t about simply doing something good for the soldiers; it is about getting rid of a risk to nationwide protection. More

1-In-4 People In The Us Seek Out Payday Advances & Different High-Cost Lending Options

Whenever talking about the main topics pay day loans — or other high-cost, short-term financial loans like auto-title loans and check-cashing — there might be a propensity to deal with them like something which only a little percentage of americans utilize. But a brand new report from the FDIC confirms that 25% of us have actually considered one of these brilliant possibly predatory solutions in past times year, and therefore this price will not be taking place. More

The most effective Lines From John Oliver’s Takedown Associated With Pay Day Loan Industry

As regular visitors of Consumerist understand, we’re not exactly fans associated with cash advance industry. Whenever we were snotty teens and lived within the exact same community as Mr. Payday, we’d leave a flaming bag of dog poo on their home. That’s why it had been so good to see our disgust for payday advances provided by John Oliver on HBO’s past Week Tonight. More

CFPB: ACE Cash Express Must Spend $10M For Pushing Borrowers Into Pay Day Loan Pattern Of Financial Obligation

Another lender that is payday a hefty fine — to your tune of ten dollars million — for allegedly pressing borrowers into a period of financial obligation. More

Bank Of America Agrees To Scan For Prohibited Payday Lenders In NY

Payday financing is unlawful much more compared to a dozen states, including ny, many loan providers find a way to travel beneath the radar by running on the web or hiding their loans as an element of another company. So that you can crackdown on loans that violate state regulations, ny has generated a database for banking institutions to make use of to simply help determine sketchy lenders, and Bank of America — no complete stranger into the dilemma of dubious loans — may be the very first to sign on. More

CFPB Report Confirms Payday Lenders And Loan Companies Will Be The Worst

For a long time, payday loan providers and collectors did their work while being mostly ignored by federal regulators that are financial. And a brand new report from the customer Financial Protection Bureau, which recently gained oversight authority within the largest of the companies, calls out a number of the sketchy, often illegal, practices some during these companies have now been getting away with for way too long. More