Could it be that the CFPB, under new Executive Director Kathy Kraninger, will be moving directly to eliminate the more controversial provisions of its payday lending rule? According to sources cited by American Banker, the CFPB will remove the controversial underwriting rules that would have forced lenders to...
According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the...
There is an election in the U.S. tomorrow, a hotly contested one on many fronts. In the months leading up to it, the world has become a very talky place. And, until the ballots are all cast and counted, we will see a lot more conversation, but not...
In any new technology arena, companies are born, they rise, they fall, sometimes with breathtaking speed. Regulations take shape, usually quite a bit more slowly. So it is with the Chinese alternative lending space, with various nomenclature in place, seemingly interchangeable, embracing P2P loans or internet...
February 07, 2019
The next chapter in the ongoing saga that is payday loan regulation officially began yesterday (Feb. 6), with the announcement that the Consumer Financial Protection Bureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. The regulations were crafted and drafted during the tenure of former […]
January 15, 2018
The China Banking Regulatory Commission (CBRC) announced this past weekend that it is focusing on boosting oversight of banking and interbank activities. According to a report in Reuters, the Chinese regulator said that any violations related to property loans, corporate governance or disposal of poorly performing assets will face more stringent punishments. The CBRC also […]
November 20, 2017
Student loans have an unexpected consequence if they go unpaid: Borrowers who default on their payments can lose their state-issued professional licenses. That’s according to a news report in CNBC...
