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Lauren Saunders - 2 Luis Alvarez - 1 Rossman - 1 Seiberg - 1 There's - 1 that's - 1 Ted Rossman - 1 Sen - 1
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Federal Reserve Bank of New York Alexandria Cortez Jesús Chuy García Seoul California
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Search resuls for: "Lauren Saunders"


3 mentions found


☆ Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion
  + stars: | 2023-10-10 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
"We do not see a path forward for legislation to cap credit card interest rates," Seiberg said. There are 70 million more credit card accounts open now than in 2019, it said. Credit card interest rates have predominantly remained below 36% due to "self-restraint" by banks, though that's still "extremely high" for a credit card, said Lauren Saunders, associate director at the National Consumer Law Center. I think some of the [political] lines are starting to blur a little bit, at least on credit card issues. How to reduce your personal card rate to 0%Rossman's general advice to consumers: Make your personal credit card rate 0%.
Persons: Luis Alvarez, Rossman, Seiberg, There's, that's, Lauren Saunders, Ted Rossman, Sen, Bernie Sanders, Alexandria Ocasio, Glenn Grothman, Grothman, Hawley Organizations: Digitalvision, Getty, Cowen Washington Research Group, Republican, Federal Reserve Bank of New, Federal Reserve, National Consumer Law Locations: Federal Reserve Bank of New York, Alexandria, Cortez, Jesús, Chuy, García
☆ California case could deal blow to high-interest online lenders
  + stars: | 2023-08-31 | by ( Jody Godoy | Thomson Reuters | Jody Godoy Reports On Banking | ) www.reuters.com   time to read: +5 min
Legal experts say that if California wins, it could embolden other states to take action against lenders that make high-interest loans to low-income borrowers using what critics call "rent a bank" partnerships. Several nonbank lenders have already exited California, said Saunders, whose group tracks high-interest lenders. In California, OppFi took the unusual step of preemptively suing to try to block the state from taking action. Federal law allows state-chartered banks to lend across state lines at the interest rate legal in their home state. California has urged Dillon to recognize that OppFi decides who to lend to and has a deal with the bank to purchase the loans.
Persons: Lee Jae, Timothy Dillon, Lauren Saunders, California's, OppFi, Saunders, Dillon, Allard Chu, That's, Ron Vaske, Ballard Spahr, Jody Godoy, Andy Sullivan Organizations: REUTERS, California Department of Financial Protection, Los Angeles Superior, California, Federal Reserve, National Consumer Law Center, EasyPay Finance, FinWise Bank, FinWise, Thomson Locations: Seoul, California, Chicago, Utah, U.S, In California, Colorado, New York
☆ CFPB: What it does and why its future is in question
  + stars: | 2023-03-03 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +6 min
The CFPB’s missionThe agency was created after the 2008 financial meltdown, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The broad purpose of the CFPB is to protect consumers from financial abuses and to serve as the central agency for consumer financial protection authorities. It is charged with implementing and enforcing consumer protection laws, making rules and issuing guidance for consumer financial institutions. And it is the place consumers can go to lodge complaints about financial products and services. “It has completely changed the consumer financial marketplace.
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