COMMENTARY

In The News: Listen to History, Borrowers to understand impact of proposed rate caps

By D. Lynn DeVault
When developing policy, it’s common sense to listen to those who stand to be the most impacted. Yet attempts to enact a 36 percent annual interest rate cap on short-term, small-dollar loans are being guided by outside interest groups with little regard for the consequences or the financial realities of many Americans. ...

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In The News: Not All Small-Dollar Lenders Are The Same

In 2020, the CFPB and Congress should work to protect access to licensed and regulated lenders and focus on tackling the very real problem of unlicensed, unregulated, illegal or otherwise unscrupulous lenders trying to take advantage of Utahns....

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In The News: Mick Mulvaney Is Right To Reform CFPB

Acting Director Mick Mulvaney is right to move to reform the bureau and separate it entirely from partisan politics. Only then can it become the independent agency Congress envisioned....

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CFPB should make sure payday rule reboot meets consumer needs

The federal government and the entire financial services industry have a duty to help Americans understand their consumer rights so they can make well-informed decisions with their money — but it is unclear how often this is happening. ...

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The ‘Equifax’ threat to small-dollar loan customers

There are many flaws in the Consumer Financial Protection Bureau’s (CFPB) small-dollar loan rule, which will deny millions of Americans access to a vital form of credit. ...

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