Category: Personal Finance

Black applicants in St. Louis metro area were 2.5 times as likely to be denied a home mortgage as white applicants. CCM Board Prez Jackie Hutchinson emphasized that lack of lending in predominately black neighborhoods is at a generational low. #MoConsumers   https://www.riverfronttimes.com/newsblog/2018/02/16/in-st-louis-black-mortgage-applicants-are-25-times-more-likely-to-be-denied ...

Prop S seeks more regulation of payday loans in St. Louis; supporters say state is failing. http://news.stlpublicradio.org/post/prop-s-seeks-more-regulation-payday-loans-st-louis-supporters-say-state-failing#stream/0 ...

If you don't think consumer protections are important, think again! Millions of consumers who were duped into paying fees will soon receive more than $17.6 million, thanks to the Consumer Financial Protection Bureau. http://www.stlamerican.com/business/business_opinion/consumers-to-receive-over-m-thanks-to-cfpb/article_53981f78-e31f-11e6-ac8b-3f3a4ee28d10.html ...

Jay Ashcroft, Missouri’s new secretary of state, has named a former executive of a company under investigation by the state to lead the agency that protects consumers from securities fraud. “The fox is guarding the henhouse,” said Rep. Tracy McCreery, a St. Louis County Democrat who sits on the board of the Consumers Council of Missouri. “And that should be alarming.” Read more here.   ...

CCM joins national consumers and civil rights organizations to make final push for a strong CFPB rule strengthening payday and car title lending rule http://consumerfed.org/press_release/national-consumer-civil-rights-organizations-make-final-push-urging-cfpb-strengthen-payday-car-title-lending-rule-close-harmful-loopholes/ ...

St. Louis Community Credit Union is opening a South City branch in Benton Park West. SLCCU is working to combat payday lending and check cashing, to put mainstream banking in the hands of people who are otherwise underserved by traditional financial institutions. https://nextstl.com/2016/09/st-louis-community-credit-union-building-new-branch-benton-park-west/ ...

The Consumer Financial Protection Bureau, CFBP, made history right here in Missouri on June 2 by proposing a new rule aimed at ending payday lending debt traps by requiring lenders to take steps to make sure consumers have the ability to repay their loans. While this rule is a good first step, it does not go far enough. We need MO Senators to stand up for strong rules. http://us13.campaign-archive2.com/?u=2d8ae0f0411e5f909b98b1215&id=63f9a7ac68 ...