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Los Angeles Times

Corker shaping payday loan rules in financial reform packageChattanooga Times Free PressRichard Durbin, D-Ill., is pushing a separate measure to cap the interest rate for payday loans to no more than an annual rate of 36 percent. …Payday lenders may avoid US oversight Los Angeles TimesFinance Reform Bill May Exempt Payday Lenders New York Times (blog)Corker Donor Could Benefit From Payday-Loan Exemption BusinessWeek NewsHour  - TPMMuckraker (blog)  - Reutersall 101 news articles »

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webmaster@technorati.com wrote an interesting post today on
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U.S. Sen. Bob Corker, R-Tenn.., said Wednesday he believes Senate negotiators are close to a bipartisan agreement over a new set of financial industry regulations.

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Consumer advocates hoped the lenders would be reined in by a new federal consumer financial protection agency, but a bipartisan proposal would largely exempt them from regulation. Payday lenders didn’t cause the economic crisis, but consumer advocates hoped their sky-high interest rates on loans would be reined in as part of a sweeping regulatory overhaul to prevent a repeat of the financial …

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webmaster@technorati.com wrote an interesting post today on
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Payday lenders may avoid US oversightLos Angeles TimesHowever, key senators feverishly working to craft a bipartisan bill want to make payday lenders — companies that offer short-term loans to tide people over …

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