Payday lending

While existing state laws show that payday lending curbs lead to positive outcomes, those laws will still benefit from a strong Consumer Financial Protection Bureau rule.

The Consumer Financial Protection Bureau will unveil sweeping federal regulations Thursday for payday lenders that could open the door for competition from banks, while forcing lenders to move toward longer-term installment loans. Here's what to track when the plan is released.

The idea that restricted access to loans for poor-credit borrowers is unequivocally a bad thing is based on industry talking points that don't stand up to real-world scrutiny.

Academics are challenging the Consumer Financial Protection Bureau's study of auto title loans, calling the findings inconsistent with state data. The study found that one in five borrowers who take out a short-term auto title loan end up having their vehicle repossessed. Some states report vehicle repossessions rates of between 6% and 11%.

The agency posted its semiannual rulemaking agenda on a blog late Wednesday updating the next steps it will take on several areas of rulemaking. The CFPB expects to issue rules for prepaid reloadable cards, mortgage servicing and mortgage disclosures this summer but set no specific deadlines yet on overdraft and debt collection.

The bureau said Wednesday that it plans to hold a public hearing in Kansas City, Mo., to discuss small-dollar lending. The hearing will be held at the Kansas City Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives and the public.

The Consumer Financial Protection Bureau found that one in five borrowers who take out short-term auto title loans have their vehicle seized for failing to repay the loan.

Google should be applauded for deciding to ban payday loan-sponsored ads. But it should tweak some of the details so legitimate lenders can still advertise.

Favorable treatment under upcoming Consumer Financial Protection Bureau rules has led banks to signal interest in small-dollar loans. But if they can serve the market profitably, why aren't they already doing it?

The pervasiveness of consumers' credit problems highlights why the Consumer Financial Protection Bureau's upcoming short-term lending rules should avoid unintended consequences.