Drivel
September 30, 2009 | federal legislation, industry | Comments (2)Testimony before the House Financial Services Committee this morning:
Examples of the financial abusers targeting racial and ethnic minorities abound, and can be found throughout the mortgage arena, where predatory lenders consistently targeted African Americans and others. This was also done in credit card abuses and in payday lending, just to name a few.
Why would any lenders target customers by race?
Take Action!
September 30, 2009 | Wisconsin, industry, regulation | Comments (2)Please weigh in on this Wisconsin newspaper comment section.
Oct. 7 hearing in Wisconsin
September 30, 2009 | Wisconsin, industry | Comments (0)Watch today’s hearing
September 30, 2009 | federal legislation | Comments (0)The House Financial Services Committee hearing on the CFPA begins at 10:00 ET. You can watch it here.
The world of unsecured bank credit
September 30, 2009 | alternatives, industry | Comments (1)Terrific post up at PDLindustryblog.
Obama would veto weak CFPA
September 30, 2009 | federal legislation, industry | Comments (0)So says the Huffington Post:
Press Secretary Robert Gibbs told reporters that there were “big” concerns inside the administration over reports that Congress was scaling back a key pillar of the president’s approach to reform: the creation of a Consumer Financial Protection Agency (CFPA). And, in a warning shot to the legislative branch, he suggested that proposed legislation to create the CFPA might not pass the president’s desk if it becomes too watered down in the process.
“Political pressure on banks”
September 30, 2009 | NPR, alternatives, industry | Comments (0)No kidding. NPR has caught up to the overdraft protection issue.
Spoon fed
September 30, 2009 | Center for Responsible Lending, Wisconsin, industry | Comments (0)Wisconson Rep. Gordon Hintz sounds like he’s been spoon fed by Center for Responsible Lending. From his guest piece today in the Appleton Post Crescent:
A two-week loan of $200 rolled over four times costs an additional $200 for a 10-week period. The average number of rollover loans in a year is 13, although the industry would have you believe that each loan is an independent transaction.
The industry would have you believe? The data collection agency that reviews payday lending frequency in other states, says CRL has misused its data by implying that each new loan is a “rollover” and not a new independent transaction. Rep. Hintz, you are being misled,
CFPA hearing tomorrow
September 29, 2009 | federal legislation, industry | Comments (0)Here’s the witness list for the hearing in the House Financial Services Committee.
Weigh in
September 29, 2009 | federal legislation, industry | Comments (0)A columnist at Forbes is asking “Should there be a national usury cap?” Let him know your thoughts.
