Category: Personal Finance

Prop S seeks more regulation of payday loans

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 ...

MO Consumer Protection Law is Under Attack!

Under consideration in the MO Senate: An Attack on MO Consumer Protection Law. Join advocates Consumers Council of Missouri in calling / emailing your legislator today! http://www.stlamerican.com/news/columnists/guest_columnists/missouri-consumer-protection-law-is-under-attack/article_07f56fd0-e725-11e6-99a8-ef49a18df41c.html?utm_medium=social ...

CFPB returns $17.6M to consumers

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 ...

Securities in MO: “The fox is guarding the henhouse”

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.   ...

Final Push for Strong Rule

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/ ...

Big WIN for MO consumers!

Regulators disallowing utility payments at payday loan stations. Allowing monopoly companies to use payday loan stations gives legitimacy to predatory business and facilitates the use of high interest loads to pay for necessary services. Its vitally important to have consumer groups who are willing to advocate for and push for policies that protect citizens from predatory businesses. Support Consumers Council of Missouri along with AARP Missouri, Empower Missouri and other ad ...

SLCCU opens in South St. Louis

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/ ...

MO Senators: Stand With Us

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 ...

Race continues to be a factor in St. Louis area mortgage lending

Race continues to be a factor in St. Louis area mortgage lending

A report released by the National Community Reinvestment Coalition found that the racial composition of St. Louis neighborhoods is a defining trait for the probability of receiving a mortgage loan. Its report also examines how the lack of banking institutions in predominantly black neighborhoods perpetuates the problem. http://m.riverfronttimes.com/newsblog/2016/07/19/black-st-louis-neighborhoods-cut-off-from-mortgage-lending-banks-report-finds ...

Payday Lending gets tough in STL

Payday Lending gets tough in STL

STL Aldermen are considering some of the toughest municipal laws in the country on Payday Lending. You can show your support for this legislation by attending the committee hearing tomorrow at 10am. ...

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