Payday loans, title loans and other usury loans. A discussion about greed, abuse and general human corruption.

Mulvaney, Trump’s Lackey, Guts Consumer Protection Bureau

Mulvaney says Trump wants him to stop the CFPB from ‘strangling’ capitalism He now crushes the voice of the only organization that tries to protect you and me as consumers. November, 2017 Trump appointed Mick Mulvaney as “acting” director of the Consumer Financial Protection Bureau, at the same time he was also the director of […]

Help – My Credit Score is Destroying My Life

There is a fairy tale that a good credit score will get you a better life. We know that most fairy tales are fables designed to teach children a healthy respect for rules and society’s expectation.  Some fairy tales were written to scare children to stay away from “bad places”, while others teach children to […]

Beware Consumers No Longer Protected, Big Business Wins Again

ONCE AGAIN CONSUMERS LOSE TO BIG BUSINESS Reuters reports that Richard Cordray, director of the Consumer Financial Protection Bureau, will step down at the end of the month.  Large companies (banks, auto finances, pay day loans and student loans, to name a very few) are ecstatic because this opens the door for Trump to nominate […]

STOP PAYDAY LOAN DEBT TRAPS – CFPB NEW RULE

Lenders Must Determine Upfront If Consumers Have the Ability to Repay Loans October 5, 2017 The Consumer Financial Protection Bureau (CFPB) has developed a new rule which has common-sense protections cover loans that require consumers to repay all or most of the debt at once, including payday loans, auto title loans, deposit advance products, and […]

Subprime Vehicle Loans are Skyrocketing

Subprime vehicle loans – according to an article in Automotive News and Bloomberg “about a third of the risky car loans that are bundled into bonds are considered “deep subprime,” a level that has surged since 2010 and is translating to higher delinquencies on the loans, according to Morgan Stanley.” Automotive financing is following the […]

Bankruptcy Can Help Seniors Find Peace of Mind

I highly recommend this great article in the New York Times about bankruptcy and the elderly.  Everyone should understand the issues related to protecting your own or your parents’ hard earned retirement funds when faced with a financial crisis. 

CFPB Launches Massive Lawsuit – Debt Collectors, Payment Processors and others

Why is this “ground breaking”?  This is the first time that payment processors are held to the same standard of responsibility as the debt collectors.