Payday lending

Congress is in session, but actions at NCUA, FASB and more will dominate the upcoming week in Washington for credit unions.

The vote Friday was a victory for consumer advocacy groups that have been pushing for years to rein in lenders that charge triple-digit rates.

A proposal to define wages-on-demand would protect consumers and serve as an example for others.

The chairman of the National Credit Union Administration gave CU Journal more details on the agency’s forthcoming rule providing guidance for credit unions purchasing banks.

Next up for BB&T-SunTrust: deciding where to unload branches; how the Trump administration would reform Fannie Mae, Freddie Mac; why the CFPB's payday rule is in the hands of a Texas judge; and more from this week's most-read stories.

Consumer Financial Protection Bureau Directors Kathy Kraninger is under pressure to ask a federal judge to lift a stay that has kept the agency's short-term-lending rule from going into effect.

A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.

The debate over the CFPB's plan to revamp its payday lending regulation should focus on the benefits for borrowers.

Readers react to jilted GSE legacy shareholders and a proposal making it harder to cite disparate impact, criticize Democrats asking the CFPB to stop its payday rule revamp and more.

House Financial Services Committee Chairwoman Maxine Waters and over a hundred other lawmakers want the agency to go forward with a mandatory underwriting requirement for payday loans.

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more.

Four advocacy groups questioned why the consumer bureau did not ask a judge to lift a stay of the rule's payment provisions.

New data from the state shows that payday loans fell to a 12-year low in 2018. But the trend does not necessarily mean that consumers are paying less to borrow.

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.

The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.

Companies that offer early access to earned wages want a regulatory framework for their fast-growing industry. But the bill under consideration in Sacramento is exposing big divisions in the sector.

Readers respond to BB&T-SunTrust's rebranding, consider the future of home equity loans, debate the number of credit unions buying up community banks and more.

The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule.

Critics have knocked the product, which provides workers access to their wages before payday, as another form of predatory lending. But California has a new bill that would create a legal framework for this short-term lending alternative, and policymakers elsewhere should follow the state's lead.

Banks and credit unions “push back” against an FCC proposal to limit calls; Miami gets the next assistant the bank says is not intended to replace humans.