The US Bank Simple Loan is a classic example of how big banks can take something simple and make it incredibly complex.
Tag: Lending
Patrick M. Brenner, recently appeared on the American Legal Record Podcast to discuss his views on the Consumer Financial Protection Bureau (CFPB) and its latest regulatory moves. In this insightful interview covered by American Credit News, Patrick delves into the core issues surrounding the CFPB’s recent circular on price comparison shopping sites and critically analyzes […]
Representing the Southwest Public Policy Institute, I recently had the opportunity to testify before the Alaska House Finance Committee and the Alaska Senate Community and Regional Affairs Committee regarding proposed legislation on consumer credit. The bills in question, House Bill 145 and its Senate counterpart, Senate Bill 264, aim to implement rate caps similar to […]
Wells Fargo’s Flex Loan program is a labyrinth of unclear eligibility requirements and a baffling case of vanishing funds.
The 2022 passage of House Bill 132, which set a stringent cap of 36% on interest rates for consumer loans, is having its intended and significant repercussions on New Mexico’s financial landscape. This was no accident: by restricting the interest rates that small-dollar lenders can charge, the rate cap effectively marginalized an entire segment of […]
In response to Fred Nathan’s (July 30) op-ed praising New Mexico’s efforts to end predatory lending, I must assert that the celebratory tone is premature and misguided. Two significant studies conducted by the Southwest Public Policy Institute — “No Loan For You!” published in March 2023 and “No Loan For You, Too!” published in June […]
Albuquerque, NM — The Pew Charitable Trusts has “archived” their Consumer Finance project and reassigned Alex Horrowitz as Project Manager of their Housing Policy Initiative. Earlier this year, the Pew Charitable Trusts released a study that claimed that six of the eight largest banks now offer affordable small loans. In another study, Horowitz wrote: “Pew’s […]
Last week, the Southwest Public Policy Institute joined Carrie Sheffield from the Independent Women’s Forum, Tirzah Duren from the American Consumer Institute, and Ann Petros from the National Association of Federally-Insured Credit Unions for the panel discussion “Protecting Lending Services For Unbanked, Low-Income Americans”, part of IWF’s Center for Economic Opportunity Policy Chat series. In […]
The latest recipient of the Marianne T. Anderson Memorial Fellowship has been announced.
Originally published at realclearmarkets.com on June 21, 2023 In New Mexico, an interest rate cap on specialized emergency loans when into effect in January. Since then, big-bank promoters have endorsed the small-dollar short-term loan products offered by U.S. Bank, Bank of America, Wells Fargo, Huntington Bank, and others as alternatives. Recently, those same activists have thrown in support for […]