CFPB Buried, Ignored Positive Payday Loan Customer “Tell Your Story” Testimonials It Requested

September 6, 2016 | Press Releases

Alexandria, Va. – New documents released today reveal for the first time more than 12,000 positive testimonials that payday loan customers submitted to the ...

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CFPB Rule A Staggering Blow To Consumers

June 1, 2016 | Press Releases

Alexandria, VA – The Community Financial Services Association of America (CFSA) today released the following statement in advance of the ...

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Payday Loan Borrower and Voter Surveys Methodology

March 1, 2016 | Research & Surveys

The research illustrates voters and borrowers view payday loans and their regulation very differently....

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New York Fed: Reframing the Debate About Payday Lending

October 19, 2015 | Research & Surveys

A New York Federal Reserve official and three distinguished academics examined the objective research to see if the criticisms of payday loans by those who do not use the product, including many law professors, consumer advocates, journalists and policymakers, are justified. The author’s review of the academic materials shows many “elements of the payday lending critique…don’t hold up under scrutiny and the weight of evidence.” ...

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Assessing the Optimism of Payday Loan Borrowers

January 1, 2013 | Research & Surveys

A 2013 study by Professor Ronald Mann of Columbia Law School found that most payday loan consumers were able to pinpoint exactly how long it would take for them to pay off their loan. In fact, contrary to the “cycle of debt” rhetoric that many critics employ, just as many borrowers paid off their debt sooner than expected as did later than expected. ...

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