Payday Loans/Car Title/Other

Consumer Information

Press Releases

Studies

Testimony and Comments

Consumer Information

For consumer information about payday loans, click here.
Research Findings Illustrate the High Risk of High-Cost Short-Term Loans for Consumers, 02/18/09. (PDF)

Press Releases

Bank Regulator Urged to Stop Community Choice Financial Inc., Going Public May 8, From Using Prepaid Card Payday Loans to Evade State Law, 05/04/12. (PDF)

Consumer Federation of America Applauds President Obama’s Signing of the Dodd-Frank Financial Reform Bill Into Law, 07/21/10. (PDF)

Consumer Federation of America Applauds Senate Vote on the Dodd-Frank Financial Reform Bill, 07/15/10. (PDF)

Consumer Federation of America Applauds House Passage of the Dodd-Frank Financial Reform Bill, 6/30/10. (PDF)

Consumer Federation Hails Financial Regulatory Reform Bill Passed by the Conference Committee as a Major Achievement, 06/25/10. (PDF)

Scorecard Shows Consumers Pay Steep Rates for Small Loans, 5/13/10. (PDF)

CFA Applauds Senator Dodd For Moving Forward on Financial Reforms, Calls for Improvements to Protect Consumers and Investors, 3/15/10. (PDF)

Scorecard Shows Many States Fail to Protect Consumers from Abusive Lending Practices, 08/27/08. (PDF)

Senator Durbin Introduces Quick Fix for Predatory Consumer Lending: 36 Percent Cap Ends Out-of-Control 400 Percent Rates, 07/18/08. (PDF)

Military Lending Act to Take Effect October 1, 09/27/07. (PDF)

CFA and Consumer Groups Respond to Department of Defense Regulations on Predatory Lending, 09/04/07. (PDF)

Consumer Groups Applaud Legislation to Halt Check Kiting for Loans, 06/27/07. (PDF)

Pentagon Rules Will Leave Military Families Unprotected, 06/12/07. (PDF)

Congress Poised to Enact Historic Predatory Lending Protections for Military Families, 09/29/06. (PDF)

National Consumer Group Joins Department of Defense in Supporting Protections Against Predatory Lending for Service Members, 09/07/06. (PDF)

CFA Launches New Web Site on Payday Lending for Consumers, 05/03/06. (PDF)

Consumer Groups Demand Improvements to IRS “Privacy” Rule Proposal, 03/09/06. (PDF)

Latest Predatory Lenders Drive Borrowers into Debt With High-Cost Loans Secured by Cars, 11/17/05. (PDF)

Loans Secured by Car Titles Trap Borrowers in Cycle of Debt, 04/17/05. (Read More)

Consumers at Risk from Online Payday Lending CFA Survey of 100 Internet Payday Loan Sites, 11/30/04. (Read More)

Senators tell FDIC to Stop Letting Payday Lenders Rent Bank Charters, 07/21/04. (Read More)

Payday Lenders Use FDIC Banks and Sham Rebates to Peddle Exorbitantly Priced Small Loans, 03/31/04. (Read More)

Consumer and Community Groups Call on FDIC to Enforce its New Payday Loan Guidelines in CRA Review of Venture Bank and Advance America, 07/14/03. (PDF)

FDIC Guidelines Turn up the Heat on Rent-a-Bank Payday Lending, 07/02/03. (Read More)

Consumer and Community Groups Call on Federal Reserve Board to Halt Rent-a-Bank Payday Lending by Delaware Bank, 04/15/03. (Read More)

New FDIC Guidelines Allow Payday Lenders to Ignore State Laws, 03/17/03. (Read More)

Consumer Federation of America Applauds Comptroller Action to Halt Rent-A-Bank Payday Lending by Peoples National Bank of Paris, TX, 01/31/03. (Read More)

Consumer and Community Groups Call on Office of Thrift Supervision to Halt Rent-a-Bank Payday Lending by Ohio Thrift, 01/07/03. (Read More)

Consumer Federation of America Applauds Comptroller For Another Crackdown on Payday Lending, 10/29/02. (Read More)

Payday Lenders Shred Consumer Safety Net, 10/03/02. (Read More)

Studies

CFA Summary of FTC Actions Related to Online Payday Loans, 10/25/11. (PDF)
CFA Survey of Online Payday Loan Websites, 08/31/11. (PDF)
50-State Small Dollar Loan Scorecard, 5/12/10. (PDF)
Fringe Financial Product Privacy and Security White Paper, 09/16/09. (PDF)
Driven into Debt: CFA Car Title Loan Store and Online Survey, 11/17/05. (PDF)
Car Title Lending: Driving Borrowers to Financial Ruin, 04/17/05. (PDF)
Internet Payday Lending: How High-Priced Lenders Use the Internet to Mire Borrowers in Debt and Evade State Consumer Protections, 11/30/04. (PDF)
Unsafe and Unsound: Payday Lenders Hide Behind FDIC Bank Charters to Peddle Usury, 03/30/04. (PDF)

Testimony and Comments

CFA Joins NCLC and CRL on Letter to Bank Regulators Regarding Urban Bank Trust and CheckSmart Merger 05/04/12. (PDF)
Comments to the Consumer Financial Protection Bureau on Payday Lending Abuses, 04/27/12. (PDF)
Comments to CFPB Regarding Consumer Financial Products and Services Offered to Servicemembers, 09/21/11. (PDF)
Consumer Groups' Comments to the OCC on Bank Payday Loans, 08/09/11. (PDF)
Consumer and Community Groups Tell Congress to Stop Abusive Online Payday Lending and Support a Strong CFPB, 05/11/11. (PDF)
CFA Urges Congress to Pass the Dodd-Frank Conference Report Immediately, House Version, 06/28/10. (PDF)

Letter to the Senate on Consumer Priorities in Financial Regulatory Reform Conference, 06/08/10. (PDF)

Letter to the House on Consumer Priorities in Financial Regulatory Reform Conference, 06/08/10. (PDF)

Testimony of Jean Ann Fox to the Arizona Senate Appropriations Committee on Payday Lending, 3/16/10. (PDF)

CFA and CU Urge the House Rules Committee to Pass Gutierrez Amendment 138, 12/8/09. (PDF)

Comments Regarding Cooling-Off Rule Regulatory Review, 9/25/09. (PDF)

Position Paper: The Need for High Cost Lending Consumer Protections, 08/12/09. [PDF]

Testimony of Jean Ann Fox before the Subcommittee on Financial Institutions and Consumer Credit Regarding H.R. 1214, the Payday Loan Reform Act of 2009, 04/02/09. (PDF)

100 + Diverse National and State Groups Support Speier’s H.R. 1608 Bill, 03/23/09. (PDF)

Consumer and Community Groups Oppose H.R. 1214, 03/17/09. (PDF)

100 + Diverse National and State Groups Support Durbin’s S. 500 Bill, 03/02/09. (PDF)

Research Findings Illustrate the High Risk of High-Cost Short-Term Loans for Consumers, 02/18/09. (PDF)

Consumer Federation Joins NCLC and Other Consumer Interest Groups in Testimony before the House Ways and Means Committee on Protecting Social Security Beneficiaries from Predatory Lending, 06/24/08. (PDF)

Testimony of Jean Ann Fox before the House Ways and Means Committee on Protecting Social Security Beneficiaries from Predatory Lending, 06/24/08. (PDF)

CFA, NCLC and CU Comments to Social Security Administration Regarding the Use of Master and Sub Account Arrangements for the Payment of Benefits, 06/20/08. (PDF)

CFA Comments to Department of Defense on Implementation of Military Lending Act Rules, 02/25/08. (PDF)

Group Letter to Representative Udall Regarding the Payday Loan Reform Act of 2007, 06/26/07. (PDF)

Consumer Group Comments to the DOD on the Proposed Rulemaking: Limitations on Terms of Consumer Credit Extended to Service Members and Dependents, 06/11/07. (PDF)

Consumer Group Statement on Proposed Department of Defense Predatory Lending Regulation, 04/11/07. (PDF)

Testimony of CFA’s Jean Ann Fox before the House Oversight and Domestic Reform Subcommittee on Domestic Policy Regarding Foreclosure, Predatory Lending and Payday Lending in America’s Cities, 03/21/07. (PDF)

Military Lending Talent Amendment Letter to Conferees, 09/07/06. (PDF)

Military Lending Talent Amendment Floor Letter, 07/27/06. (PDF)

Testimony of CFA's Travis Plunkett on Current Proposals Considered for Regulatory Relief Legislation, 06/21/05. (PDF)

Letter to FDIC on First Bank of Delaware, 10/09/03. (PDF)

Consumer Groups Urge FDIC to Enforce New Payday Loan Guidelines, 07/11/03. (PDF)

Letter to FDIC on Payday Lending by Republic Bank and Trust, 05/20/03. (PDF)

Federal Reserve Member Banks Not For Rent, 04/14/03. (PDF)

Comments of CFA and other 15 national and local consumer groups on new FDIC Draft Guidelines for Payday Lending, 03/14/03. (PDF)

CFA Comments to FDIC on Draft Payday Loan Guidelines, 03/02/03. (PDF)

Federal Thrifts Not for Rent, 01/03/03. (Read More)

National Consumer and Community Group Payday Loan Letter to Congress, 10/07/02. (PDF)