Remember that federal watchdog designed to protect us from financial payday lenders as predators? Yeah… they just rolled over. As of March 30, 2025, the Consumer Financial Protection Bureau says it won’t enforce two of the most critical rules meant to rein in payday lenders: And they say this applies to Payday, Vehicle Title, and …
A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending. Instead of using the payment plans, borrowers continue to pay for costly loan …
If you’re having trouble repaying your payday loan, you might be able to ask your lender for an extended repayment plan. An extended repayment plan lets you repay the loan in smaller installments over a more extended time. Whether you can get an extended repayment plan will depend on your state law or the payday …