Payday loan companies and their supporters offered stiff, knee-jerk resistance to a moderate slate of regulations proposed Thursday by the Consumer Financial Protection Bureau. The industry has gone unsupervised at the federal level for decades, and undermined state regulations at every turn.
When companies switch from normal paychecks to electronic payroll debit cards, employers save money -- and expose their workers to bank abuses. Federal rules are coming, but some states don't feel like waiting.
Montel Williams has been the face of MoneyMutual since 2009. From now on, his ads for the payday loan facilitator will feature a disclaimer warning New York residents not to bother applying because the loans in question violate state law.
California's Housing Trust Fund has been an empty treasure chest for 20 years as the gap between the demand for affordable housing and the number of available units has swollen to crisis levels. Now state lawmakers are trying to fix it.