Payday lending

After the National Credit Union Administration asked for comments on proposed revisions and expansions to its Payday Alternative Loan program, credit unions offered their suggestions for how to fix it.

The agency's settlement with Robert Moseley Sr. and Robert Moseley Jr. was enforced by the U.S. District Court for the Western District of Missouri.

The bureau is expected to choose an option that could trigger court challenges after a judge yet again refused to halt the rule’s compliance date.

Forty credit unions participated in the study, which led to nearly $85 million in loans over the course of 18 months.

While a significant amount of press has been made about providing faster access to payments for Uber and Lyft drivers, as well as workers in the gig economy, there is an underserved community of millions of Americans who work in low-wage jobs living paycheck to paycheck.

The state follows Colorado’s lead in adopting reforms pushed by the Pew Charitable Trusts.

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.

Kathy Kraninger, a senior official at the Office of Management and Budget, largely avoided answering direct questions at her nomination hearing.

The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way.

The nominee to run the consumer bureau endured tough questioning over the administration’s family-separation policy but appeared to weather the barrage.