A Washington state law that restricts payday loan marketing to poor families has caused the states payday lenders to lose three-quarters of their business in the five years since it was enacted, according to published reports. Collection & Credit Risk
The Consumer Financial Protection Bureau soon will release its first draft of regulations aimed at governing a wide range of short-term loans - including credit backed by car titles, some installment loans and often-criticized payday loan. Collection & Credit Risk
The state that brought high-cost consumer loans to the rest of the country may finally be ready to reverse course. Collection & Credit Risk
Kentucky State Sen. Reggie Thomas, D-Lexington, pre-filed a bill with the Kentucky General Assembly to cap the amount of interest charged by payday loan lenders. Collection & Credit Risk
Missouri regulators are weighing whether to stop a practice in the state of allowing payday lenders to collect utility bill payments from customers. Collections - Other Consumer
Idaho's Payday Loan Act, designed to dictate how much payday lenders can give borrowers, went into effect Tuesday. Collections - Other Consumer
Banks have started to rid themselves of ties to industries that regulators deem unsavory, from pornography to gun sales to payday loans. Collections - Other Consumer
