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A Michigan Court of Claims judge has denied Carvana's request for a temporary restraining order against Michigan Secretary of State Jocelyn Benson for suspending its Novi dealership operations.
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South Dakota voters approved an initiated measure aimed at capping interest rates on short-term loans in the state. Included in the cap are all charges for ancillary products and any other fees included in the extension of credit.
Read More →The bureau charged the title lenders with violating the Truth in Lending Act for failing to disclose annual percentage rates in online loan advertisements. It is seeking civil monetary penalties and administrative orders requiring the companies to correct their practices.
Read More →The Consumer Financial Protection Bureau’s small-dollar lending rule would neither adequately protect borrowers, nor address the risks created by the shift toward installment credit in the payday and auto title lending market, an analysis by Pew Charitable Trusts concludes.
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