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Talking Finance and Faith: Payday Loans and Franciscan Pawnshops
We sometimes hear from people deeply committed to one or both that religion and the market should keep to their separate spheres. In my Catholic faith tradition, there’s a long history of religious...
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How We Punish People for Being Poor
This past weekend, I was part of a panel discussion on MSNBC’s Melissa Harris Perry with New York Times reporter Michael Corkery, whose reporting on the rise in subprime auto loans is as horrifying as...
View ArticleHow to Stop Predatory Lenders Now
Payday lenders are extremely good at what they do. They present their predatory products as the solution to financial emergencies. They seek out and find low-wage workers through enticing commercials...
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No, Florida Isn’t a Model on Payday Lending
In any given year, 12 million Americans take out a payday loan, which often comes with a triple-digit annual interest rate. And, as four out of every five of these borrowers aren’t able to afford these...
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A New Bill in Congress Would Make Mobile Home Loans Even More Predatory
Tomorrow, the House of Representatives will vote on a bill that would allow employees at manufactured home retailers—who sell houses often called “mobile homes” or “trailers”—to steer customers towards...
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Congress Is Voting on a Bill That Could Make Debt Traps Legal Again
Today, the House of Representatives votes on an end run around state consumer protection laws. If it passes, the bill would overturn state efforts to stop payday lenders from charging triple-digit...
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Congress Has a Chance to Overturn Trump’s Rent-A-Bank Rule
In November 2019 — before quarantine, social distancing, and a year straight of unemployment insurance claims higher than the worst week of the Great Recession, back when the idea of paying millions of...
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