America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics at work in the auto lending, medical debt and payday loan sectors. “Today’s report furthers...
Payday lender ACE Cash Express has been accused by the Consumer Financial Protection Bureau (CFPB) of hiding free repayment alternatives from its customers. Due to ACE’s activities, reborrowing fees of hundreds or thousands of dollars were allegedly charged to borrowers who were eligible for free...
The Consumer Financial Protection Bureau (CFPB) on Wednesday (April 6) reported that most payday loan borrowers haven’t benefitted from extended payment plans, which lenders must offer to borrowers in a majority of states where payday lending is prohibited, and are instead paying more rollover fees....
In today’s top news, Venmo is adding transaction charges for goods and services, and U.S. credit card companies are looking to encourage consumers to borrow. And GlaxoSmithKline is planning to take its consumer health division in a spinoff listing. Venmo Raises P2P Fees, To Charge...
December 29, 2023
Credit unions (CUs) have long been a reliable source for credit products such as credit cards, mortgages, auto loans and personal loans. However, with the rise of non-bank and non-CU financial entities offering competitive deals, consumers are increasingly looking for better options. In “Credit Union Innovation: How Credit Product Rates Impact FI Selection,” PYMNTS Intelligence […]
August 16, 2019
For gig workers, a growing subset of the economy where at least one-third of the U.S. workforce has taken on project-based work, getting paid in a timely manner can be...
May 29, 2019
Income sharing is not a common method of financing as of 2019 — though, as of late, it has begun to get much more interest from investors and innovators, particularly...
April 29, 2019
By the numbers, Americans are not a very financially literate people. According to a Standard & Poor’s Global Financial Literacy survey only about 57 percent of the adult population is...
July 26, 2023
America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics at work in the auto lending, medical debt and payday loan sectors. “Today’s report furthers our efforts to highlight conduct that violates federal law, including […]
July 12, 2022
Payday lender ACE Cash Express has been accused by the Consumer Financial Protection Bureau (CFPB) of hiding free repayment alternatives from its customers. Due to ACE’s activities, reborrowing fees of...
September 04, 2020
A Kansas City payday loan company and its operator will be compelled to pay $132.5 million in restitution to borrowers the company duped, if a federal administrative law judge’s recommendation...
August 12, 2020
Cash App, Square Inc.’s mobile payment app, has launched a pilot program to offer short-term loans of up to $200, TechCrunch reported. “We are always testing new features in Cash...
