Last week I had the privilege of representing your interests at a state senate hearing in Missouri, where legislation has been introduced that calls for a state-wide database of payday loan customers. This means that when you take out a short-term loan in Missouri, your name is entered into a state-wide database to ensure you cannot take out more than one loan at a time.
Will you continue to have access to short-term credit? The answer is up to you!
Last week, the Consumer Financial Protection Bureau (CFPB) held its first hearing on payday loans in Birmingham, Alabama as it begins to consider how best to regulate payday lenders. They continue to ask for stories so that they can make reasonable regulations. These regulations will determine whether or not you will still have access to a variety of credit options, like payday or installment loans.
As we adjust to life during an economic downturn, many of us are worried about how to afford the holidays this year…Often, too much emphasis is placed on buying and opening presents. Let’s shift the focus to what is being celebrated during this holiday season.
It has been a busy fall! I’ve participated in panels, testified in hearings and spoken at conferences. You have been there with me at all of these events. Your stories have inspired me to make a case for greater access to credit whenever and wherever I can.
By now you have probably heard that Bank of America is going to charge its debit card customers a $5 per month fee. Wells Fargo and Chase are looking at $3 per month fees. In fact, across-the-board, banks are looking at all kinds of fees to boost their bottom line. This is bad for consumers,… Read more…
On August 17th I walked into a meeting with the new Consumer Financial Protection Bureau (CFPB) very hopeful and a bit nervous. I was very anxious to effectively represent your interest in protecting and expanding your access to cash when you need it most. I was also hopeful that your signatures and stories could influence… Read more…
The Federal Reserve Bank of Kansas City just released the results of a groundbreaking study that concluded: “Restricting payday lending could deny some consumers access to credit, limit their ability to maintain formal credit standing, or force them to seek more costly credit alternatives.”[i] While this may seem obvious to most of us, not many… Read more…
As more and more of us struggle to meet our financial obligations, we have fewer and fewer credit options. And now, our few remaining options are under attack by well intended law makers.
Join more than 90,000 Americans and tell Consumer Financial Protection Bureau that you deserve access to short-term credit: Sign our Petition Now!
Why not get started today doing what we can to make 2011 better? It takes less than one minute to sign the petition to protect your right to make personal financial decisions.
With the outcome of our recent elections, much work is ahead for the existing and newly elected Federal and State Representatives. It is our hope that in 2011, Congress will make sure the new Bureau of Consumer Financial Protection will finally address the growing issue of access to credit in this country. We are going… Read more…
