Posted on October 9, 2014

World Acceptance is in danger of failing to meet the terms of a covenant written into the most recent amendment of its commercial credit agreement.

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Posted on October 6, 2014

Block Bank deal put off? Why? Could it be some behind-scenes pressure on the use of refund anticipation checks? Could it be a moment where a regulator asks for a real CRA strategic plan for prepaid card issuers?

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Posted on October 3, 2014

For-profit schools now attract ten percent of new enrollments because our community college system is failing. We aren't spending enough at the schools which have the greatest capacity to reduce economic inequality. The result: our least advantaged are taking on an average of $23,000 in debt in order to try to get a career.

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Posted on October 2, 2014

Small banks are slow to adopt new payments technologies. Their core customers probably won't care anyway, but young people are never going to see the appeal.

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Posted on October 1, 2014

When is zero not really zero? When it is not really zero. At Conn's, zero is 22 percent in two of every three cases.

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Posted on September 30, 2014

My suggestions for the CFPB's new proposed rules on prepaid debit cards. They must decide if they will allow overdraft and/or lines of credit on these accounts. I say "no" to overdraft, and "yes" with strong conditions to credit.

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Posted on September 26, 2014

New Rule Would Add Protections for Servicemembers Targeted by Abusive Credit Providers

Reinvestment Partners applauds the Obama Administration and the Department of Defense’s effort to close loopholes in the Military Lending Act (MLA). The proposed rule, if adopted, will help to protect the financial security of our servicemembers by preventing lenders from offering abusive loans to servicemembers or members of their family.  Previous efforts to prevent abusive lending have been widely ignored by payday lenders and others who have modified products to evade protections put in place in 2007.

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Connecting the Dots: How Wall Street Brings Fringe Lending to Main Street

"I Feel Like I was Set Up to Fail: Inside a For-Profit College Nightmare."

This story was published in Salon Magazine on January 27th, 2014. In March, Senator Richard Durbin cited this story when speaking on behalf of his bill, The Student Loan Borrowers Bill of Rights.

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