Reasonable rates for payday installment loans
The proposed reform also takes several important steps to close the loophole in the Payday Loan Reform Act that has allowed some lenders to offer long-term loans with rates as high as 1200 percent APR and little or...
Tracking the Progress of Federal Loan Modifications: November
Eighteen lenders started modifications for less than 24% of their eligible loans, below the national average. Only ten lenders modified 24% or more of their eligible loans. Last month, eighteen lenders modified fewer loans than the national average, while...
Federal Reserve names Dory Rand to Consumer Advisory Committee
“This is an opportunity for Woodstock Institute to have a direct on influence financial services policy at the Federal Reserve Board level,” said Rand. “I plan to be a strong advocate for fair lending, wealth creation, and regulatory...
From the President: House Passage of Consumer Financial Protection Agency Bill a Momentous Step Forward for Consumers
The Consumer Financial Protection Agency (CFPA) could address problems that plague our financial system today, such as deceptive-by-design loans, misleading advertising, and contracts with terms buried in fine print. The CFPA would not only make financial products safer and...
Foreclosure policy conference highlights diverse approaches to crisis
Strategies that aim to solve the foreclosure crisis must take into account the varied causes of the crisis, from predatory lending to negative equity to unemployment. These strategies need to mitigate foreclosure’s wide-ranging negative effects on homeowners and...