Why are the payday lenders trying to destroy the CFPB? The Consumer Financial Protection Bureau (CFPB) is a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly. The CFPB was created in the wake of the 2008 recession when reckless financial practices by banks and other financial institutions nearly […]
We Can’t Create a Lending Loophole: Pay a Living WageA few days into the 2023 Virginia General Assembly session, VPLC learned that an “earned wage access” lender had talked two legislators into filing legislation to “regulate” the industry. The 2023 General Assembly rejected the legislation. However, it appears that there will be another effort to pass legislation in the 2024 General Assembly. What is […]