Tag Archives: Richard Cordray

CFPB makes its presence felt in Texas

Good for them. Texas-based payday lender ACE Cash Express has agreed to pay $10 million to settle allegations by the federal Consumer Financial Protection Bureau that it used harassment and other illegal tactics to push borrowers into a cycle of … Continue reading

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The CFPB is almost ready to roll out payday lending regulations

I can’t wait to see what they come up with. Whenever governments start thinking about cracking down on small-dollar, high-interest financial products like payday loans and check cashing services, a shrill cry goes up from the businesses that offer them: You’re … Continue reading

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The CFPB and payday lending

This ought to be good. Picking his first public fight with the banking industry, Washington’s top consumer cop, Richard Cordray, promised on Thursday that his examiners will scrutinize a handful of big banks that make high-cost loans. Inspection of major … Continue reading

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Payday lenders face new regulation

New regulations aimed at curbing the excesses of payday lenders are now in effect, but they will not be the last word on the subject. Proponents of the new regulations passed by lawmakers during the 2011 session say they’re needed … Continue reading

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In which I try to find common ground with Sen. Patrick

From a news item about President Obama’s nomination to helm the Consumer Financial Protection Bureau: Congress created the bureau a year ago this week with the enactment of the Dodd-Frank law, which overhauled financial regulations after the credit crisis. The … Continue reading

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