Payday lending

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.

Currently, the maximum a federal credit union can charge on most loans is 18%. But a proposal from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez to lower that to 15% on consumer credit could reduce access, experts said.

Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.