Payday lending

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee.

Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.

Their challenge is creating a viable, profitable product that doesn't get flagged for being predatory.

A first-in-the-nation bill that drew unanimous support from the state Senate failed to get over the finish line this year. What happened?

Board Member Todd Harper was the lone dissenting vote on the rule, saying it was a "bridge too far." Lawmakers and consumer groups have also spoken out against it.

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

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.