Payday lending

The Office of the Comptroller of the Currency’s bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending.

Two Native American tribes agreed to forfeit $3 million in money they took in for acting as fronts for a scam run by Scott Tucker, the former race-car driver convicted of operating an illegal payday loan business.

New legislation to offer banking services at post offices comes with some flawed assumptions, but payday lending needs an overhaul.

The trend may be partly attributable to a strong economy. Growth in high-cost installment lending could also be a factor.

Jan Lynn Owen works at the epicenter of the digital revolution, but she is unambiguously cautious about the fintech industry.

New legislation to offer banking services at post offices comes with some flawed assumptions, but payday lending needs an overhaul.

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The new chair of the Conference of State Bank Supervisors argues that state regulators will keep protecting consumers if the CFPB curtails oversight.

The CFPB ordered Security Group Inc. to pay $5 million for making illegal threats, including that consumers could go to jail.

In his inaugural hearing as comptroller of the currency, Joseph Otting defended his decision not to publicly rebuke banks for Wells Fargo-like problems.

The agency will have to rework its strategy for amending its payday lending rule after a federal court rebuffed efforts to stop the rule from going into effect.

Acting CFPB Director Mick Mulvaney had sided with two industry trade groups that sued the CFPB in April to invalidate the tough restrictions.

Mary Jackson, a former executive at Cash America International, succeeds Lisa McGreevy at the helm of the Arlington, Va.-based trade group.

Despite recent encouragement from the OCC, banks still struggle to make a profit on short-term loans.

The agency found no “systemic issues” in its review of other banks’ sales practices; some churches say the lenders are needed, others see the devil.

Payday lending stocks are beating records. Mostly because they're no longer payday lenders.

The agency’s recent bulletin could help banks get back into the small-dollar lending business, keeping needy borrowers out of debt traps. But other regulatory limits remain in focus.

Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.

An OCC initiative to get more banks to make short-term loans that rival those of payday lenders isn't enough of an enticement.

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