There is plenty in the CFPB's new report on payday lending that re-iterates why it is important to have a strong payday rule. But perhaps the most interesting part is how it reveals the ways that banks are complicit in trapping consumers in the cycle of debt.Read More
Americans are spending a lot on overdraft fees.Read More
People are borrowing from Conn's to buy electronics and furniture that they really can't afford. As those vintages mature, the cost of easy credit is becoming more and more apparent.Read More
High fees and overdraft are the hallmarks of second-chance checking accounts. Some banks no longer offer these accounts, and instead are emphasizing checkless DDA accounts and prepaid cards.Read More
It seems to be the case that Green Dot is going to put Harvest Capital's plan into its playbook.Read More
Don't believe they hype. No one makes a free non-recourse loan. The new free RAL is neither free nor transparent.Read More
Citing the current volatility in US equity markets, non-bank consumer lender Elevate has decide to withdraw its proposed initial public offering of common shares.
Elevate is the company behind Rise, Sunny, and Elastic. I recently wrote about Elastic, the line of credit product that Elevate markets in tandem with Republic Bank of Kentucky and a variety of subsidiaries owned by Victory Park Capital.Read More