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October 4, 2013 - 12:48pm | Filed under: Small Dollar Loans

Director Richard Cordray of the Consumer Financial Protection Bureau gave remarks and hosted a field hearing in Chicago on Wednesday to release a report...

August 1, 2013 - 3:04pm | Filed under: Small Dollar Loans

Beginning next month, the city of Chicago will become the first municipality in the nation to offer a prepaid debit card account as part of its regional transit pass. The Chicago Transit Authority (“CTA”) entered into a contract with Cubic Transportation Systems, Inc., to offer...

May 17, 2013 - 5:01pm | Filed under: Small Dollar Loans

Recent research by the Insight Center for Community Economic Development studied the impact of payday lending in the U.S. and found the practice cost the economy nearly $1 billion in 2011, equivalent to the net loss of nearly 14,000 jobs nationwide. California, Texas, and Illinois were among the...

March 6, 2012 - 5:41pm | Filed under: Small Dollar Loans

I don’t know about you, but I’m sick of being taken advantage of by my bank. What do I look like, an ATM? “Hmmmm… let’s see what he will pay for now.” Each year banks make more and more money from fees. Some banks (Bank of America) have reported...

November 4, 2011 - 5:07pm | Filed under: Small Dollar Loans

"Imagine that: when the banks actually disclose a fee to consumers, they have the capacity to vote with their feet—in this case by migrating to competitor banks with a more customer-friendly policy.  This is free market economics at its best."

Facing a hue and cry from...

August 9, 2011 - 12:53pm | Filed under: Small Dollar Loans

When I heard about S & P downgrading U.S. credit - only one thought came to my mind - you've got to be kidding me!! Isn't this the same company that threatened to downgrade or refuse to even rate mortgages in states that had the audacity to try and prevent the predatory lending crisis that we all saw coming. And isn't this the brilliant agency that gave AAA ratings to mortgages that weren't safe enough to use at the bottom of a bird cage.

April 8, 2011 - 7:07pm | Filed under: Small Dollar Loans

Chutzpah derives from the Hebrew word u meaning "insolence", "audacity", and "impertinence." In Hebrew, chutzpah is used indignantly, to describe someone who has overstepped the boundaries of accepted behavior with no shame.