CFPB changes rules regarding payday loans

Payday Loans Face Tough Rule Changes from CFPB

By Bill Fay | June 9, 2016

The Consumer Financial Protection Bureau has proposed new rules aimed at putting more responsibility on payday loan lenders and their crippling triple-digit interest rates. The CFPB proposals would require lenders…

Auto Sales Slow Because of New Legislation

New Legislation May Slow Record-Breaking Car Sales

By Bill Fay | November 25, 2015

Analysts predict record-setting sales for the automobile industry over the next year, though feuding between government leaders over whether discrimination exists in car financing could slow things down. WardsAuto Dealer…

Student Cap on Money

Borrowers Get Another Way To Repay Student Loan Debt

By Bill Fay | October 29, 2015

The U.S. Department of Education (DOE) announced it was imposing regulations to prevent colleges from steering students to specific debit and prepaid cards for use with federal grant and loan…

Debt is Due Now On Paper

CFPB Orders Debt Collection Agencies To Refund Millions

By Bill Fay | September 10, 2015

The 77 million Americans pursued and often harassed by debt collection agencies won a moment of relief when the Consumer Financial Protection Bureau (CFPB) ordered the nation’s two largest debt…


Alleged Student Loan Debt Scams Face Lawsuits

By Bill Fay | July 24, 2014

Another round of alarms sounded in the trillion-dollar student loan crisis when the Illinois Attorney General accused two student loan debt settlement firms of scamming borrowers. Illinois Attorney General Lisa…

CashCall mortgage information

CFPB Files Lawsuit Against CashCall for Illegal Online Loan Servicing

By Bill Fay | December 19, 2013

The Consumer Financial Protection Bureau (CFPB) sounded the alarm about online loan services, filing a lawsuit against CashCall Inc., for collecting exorbitant amounts of money the bureau says consumers didn’t…

Speaker of the House John Boehner speaks before the budget deal

U.S. House Passes Budget Deal; Senate Likely to Follow Suit

By Bill Fay | December 13, 2013

Democrats finally scored a victory in the U.S. House of Representatives on Thursday, joining Republicans to pass the Bipartisan Budget Act by a stunning margin of 332-94. The unanticipated truce…

President Barack Obama speaking

Federal Government Reopens, Cloud of Uncertainty Passes for Now

By Bill Fay | October 17, 2013

The cloud of financial ruin threatening the U.S. and world economy floated away Wednesday, but it will be back. President Barack Obama and Congress made sure of that when they…

U.S. Capitol with a chain link in front of it

Consumer Financial Services Affected by Government Shutdown

By Alanna Ritchie | October 4, 2013

The continued U.S. government shutdown, now entering its fourth day, means that myriad services for consumers remain at a standstill. The Small Business Administration (SBA), the Federal Trade Commission (FTC),…

Black hole of debt in the U.S.

Is Debt Affecting our Economic Freedom?

By Bill Fay | July 3, 2013

As we approach July 4, the 237th anniversary of our nation’s independence, it’s also worth noting that our country is in its fourth year of a sluggish recovery from the…