Small-dollar lending

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.

The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.

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.

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

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.

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.

In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.

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.

Despite renewed calls from Democrats looking to USPS to offer banking services, policymakers should instead consider reforms that would permit private-sector firms like Walmart and Amazon to offer a wider array of financial products.

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.

Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act.

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans.

Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard.

Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.