Crypto Regulations Move Into The Spotlight
You’d be forgiven for thinking the regulatory ripple effect was all about Wells Fargo. After all, the steadily louder drumbeat for CEO Tim Sloan’s resignation may have finally taken its toll, as he...
View ArticlePew Blasts CFPB Payday Lending Proposal
As the Consumer Financial Protection Bureau (CFPB) wades through the public comments about rules regarding payday lending, The Pew Charitable Trusts has weighed it with its own letter, this one urging...
View ArticlePayday Lending, P2P And Innovation Topped The Week’s News
Were you able to keep up with all the news that happened this week? We at PYMNTS are here to make sure you didn’t miss anything. Both Visa and Mastercard made big moves, and Karen Webster took a...
View ArticleExecutive Order Looms For Social Media Firms On Content?
A draft executive order from the White House might lay out how Big Tech firms curate and present their data. As noted last week, the draft order, which was seen and reported by CNN, would place the...
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Report: Data Key To Credit Union Member Retention
One of the largest factors that sets credit unions (CUs) apart from large banks and FinTech providers is their emphasis on member relations. According to PYMNTS’ Credit Union Innovation Index, 65...
View ArticleBuilding A Better Payday Lending Product
Short-term lending has something of a bad rap in the United States — consumer advocacy groups have long accused them of being predatory debt traps, and both state and federal regulators have spent the...
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Keeping Customers Safe (And Satisfied) With Call Center Innovation
Call centers need to ensure that they provide a robust customer experience via multiple channels, but that need can make the authentication process tricky in terms of satisfying consumers who want...
View ArticlePayday Lending Laws Drive Traffic To Pawn Shops
While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. By definition, a pawnbroker offers...
View ArticleGoogle Play Store Boots Payday Loan Apps
High-interest consumer loans — often known as payday advances — are now banned from having apps on the Google Play store, The Wall Street Journal (WSJ) reported on Sunday (Oct. 13). Apple doesn’t have...
View ArticleCFPB’s Debt Collection, Payday Lending Rules Come Under Fire In Congressional...
Payday lending practices again came under fire Wednesday (Oct. 16) from members of the U.S. Congress, as Kathy Kraninger, director of the Consumer Finance Protection Bureau (CFPB), faced lawmakers...
View ArticleMore Regulatory Trouble Could Be Heading Short-Term Lenders’ Way
Keeping track of the legal status of short-term lending in the U.S. – which encompasses financial products such as payday loans, pawn loans and title loans – has become something of a game of “follow...
View ArticleCFPB Eases Payday Lending Rules
The federal Consumer Financial Protection Bureau (CFPB) has eliminated a rule that placed limits on payday lenders, handing a victory to the sector. In a two-sentence ruling Tuesday (July 7), CFPB...
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Topcoder On The Payroll Must-Haves For Retaining Tech Talent
The United States added 4.8 million jobs in June, but economic concerns surrounding the impact of the COVID-19 pandemic are still surfacing. Many workers hired in June were also hired part-time or...
View ArticleInstant Pay Startup Clair Notches $4.5M To Help Gig Workers
New York City-based FinTech startup Clair has raised $4.5 million in seed funding to disrupt payday lending schemes and help gig workers and freelancers get paid instantly. The funding was led by...
View ArticleSEC Charges Payday Lender Sky Group With $66M Fraud
The Securities and Exchange Commission (SEC) has accused a Miami-based payday loan company and its CEO of defrauding its investors. The SEC announced the charges on Monday (Sept. 27) against Sky Group...
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