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payday lending
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Daily News: Keep Payday Loans out of N.Y.: Politicians are Pocketing Campaign Funds from the Check-Cashing Industry and Considering an Economically Dangerous Policy Change
Daily News — A staggeringly bad anti-consumer bill that would allow check-cashing stores to start making loans is quietly winding its way through the state Legislature, advanced by lawmakers who ought to know better — and who happen to have received hefty donations from the check-cashing industry.
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New Economy Project and Allies Go to DC to Demand Strong Payday Lending Rule
A coalition of two dozen faith leaders, and labor, civil rights, and community groups from states that ban payday lending hand-delivered strongly-worded letters to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday, calling on the federal agency to “use its full authority” to crack down on predatory payday lending.
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New Yorkers to CFPB: We need a strong payday lending rule!
This morning, New Economy Project hand-delivered a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, calling on the CFPB to issue a strong payday lending rule that ends the payday loan debt trap once and for all.
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Epoch Times: NY Bank Offers Throw Financial Lifeline to the Needy
Epoch Times — New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan designed to simultaneously extend credit lines to the needy and help them rejoin the financial mainstream.
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Testimony before NYS Assembly Committees, on keeping predatory lending out of New York
New Economy Project expresses to the NYS Assembly Standing Committee on Banks and Assembly Subcommittee on Banking in Underserved Communities the importance of keeping predatory loans out of New York.
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WSHU: Banks Agree To Block Payday Lenders
WSHU — Four additional banks have agreed to block online payday lenders from accessing customer accounts in New York. The agreement comes as the banks’ processing network remains silent on efforts to keep the illegal loans from crossing state borders.
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Comment Letter to Federal Banking Regulators, on Unauthorized Debits by Payday Lenders
New Economy Project urges regulators to help bank customers stop unauthorized debits by payday lenders and others.
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Crain’s NY Business: Lobby Looks to Cash In
Crain’s New York Business — Letter to the Editor by New Economy Project Co-director Josh Zinner: “Check cashers try lending a hand” (Aug. 18) paints a misleadingly rosy picture of the check-cashing lobby’s motivations.
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Baptiste v. JPMorgan Chase Bank
New Economy Project brought this case against Chase in 2012, exposing the banks’ role in facilitating — and profiting from — payday lenders’ illegal lending and debt collection practices. A 2013 settlement resulted in significant practice changes at the bank.
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Amicus Brief, on The Otoe-Missouria Tribe of Indians et al. v. New York State Department of Financial Services et al.
New Economy Project files a 2013 amicus (“friend of the court”) brief in support of New York State’s crackdown on illegal online payday lending.