Atlanta, GA (CBS46) – A new federal rule aimed at protecting borrowers from predatory lenders is set to take effect this August. The rule includes a key provision for borrowers to show they could repay their loan. But the Consumer Financial...
More infoCFPB Payday Rule Rollback Puts Georgians at Risk
Last week, the Consumer Financial Protection Bureau (CFPB) moved to gut the agency’s own consumer protections against predatory payday and car-title lenders, leaving people exposed to the harms of these predatory products. Georgia thankfully already has a...
More infoSunTrust combination with BB&T means changes for customers
Bank mergers often shake customers out of their inertia in search of a better deal, something Atlanta’s SunTrust and Winston-Salem’s BB&T have to consider after their mega-combination. Mergers that create bigger banks tend to lead to some shifts...
More infoBCH: What You’ll Give To Get Rid Of Your Debt
By WGCL Digital Team – WGCL-TV If you’re starting the year weighed down by debt, you may be paying more attention to the ads from debt relief or credit repair companies. They promise to rescue you from financial distress, but is that really...
More infoBetter Call Harry: Shutdown Loans
By Harry Samler – WGCL-TV Federal employees who missed their paychecks today may be looking for ways to tide themselves over until the shutdown ends. Better Call Harry explains some options you should look into and ones to avoid if you can’t...
More infoCFPB catches flak from banks, credit unions on risks of AI
By Kate Berry – American Banker The Consumer Financial Protection Bureau on Thursday got an earful on the use of artificial intelligence from members of three advisory boards who said traditional financial institutions are at a competitive...
More infoCongressional report slams Equifax for 2017 data breach
By Tamar Hallerman and J. Scott Trubey – The Atlanta Journal-Constitution WASHINGTON —The cyber breach of the credit reporting agency Equifax that exposed the sensitive personal data of 148 million Americans last year was “entirely preventable” and...
More infoNew Report Finds Georgians Exposed to Larger, Longer High Interest Predatory Loans
NCLC 50-State Review of Consumer Protection Laws for a $10,000 Five-Year Installment Loan Download the full report, including a map, charts, and tables, complete list of recommendations, and a summary of the laws in Georgia that apply to a $10,000...
More infoTitle-pawn shops ‘keep poor people poor.’ Who’s protecting Georgians from debt traps?
By Kevin G. Hall, Michael Woodel, Laura Corley And Ben Wieder – Ledger-Enquirer Rent was due soon but Brian McGhee could not afford to pay it. Like many Georgians under financial duress, the barber handed over the title to his automobile and borrowed...
More infoMapping Title Lending and Poverty on ATLMaps
By Beth Stephens and Blake Davis – Georgia Watch, GSU Title pawn lending, a practice in which a lender holds the title to a consumer’s car as collateral on a transaction, is prevalent in lower-income Georgia communities where families often struggle...
More infoLiz Coyle joins CFPB Advisory Board
Later this month, Georgia Watch Executive Director Liz Coyle will be joining the Consumer Advisory Board and offering her perspective as a consumer advocate on issues before the Bureau of Consumer Financial Protection. “I look forward to engaging...
More infoRent-To-Oh-No Furniture
By TrustDale We got this Rent-To-Oh-No furniture financing problem solved. Learn what to look for in the fine print to protect yourself. (Watch Now)
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