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New rule asks if borrowers can afford pa...

Lenders offering payday loans and other small advances to cash-strapped consumers must first determine whether borrowers can afford to repay the debt under a long-awaited federal rule finalized Thursday. The rule, passed by the Consumer Financial Protection Bureau, would also reduce repeated attempts by lenders to debit payments from borrowers’ bank accounts, a practice that […]

Taking inspiration from fintechs, banks ...

A small number of banks have started to offer advance direct deposit – a move that will cost them revenue in the short term but could help them preserve market share and boost their public image in the long term. This service, sometimes called prepayment, allows customers to access their paycheck a day or two […]

Moneylender Provident will stop offering...

Moneylender Provident Financial has decided to close its home loan division, as the Covid pandemic hit its recovery efforts. Provident is one of the largest lenders in the Irish market. The British firm, a subprime lender since its inception in 1880, said it planned to put the managed business into liquidation or consider a sale […]

UPDATE 3-Provident to close its home loa...

* Provident will no longer offer expensive products *Reports 2020 loss to prior year profit * Looking to place CCD in a managed run-off or sell it (add CEO comments from call, industry info, update share move) May 10 (Reuters) – Provident Financial called on Monday to quit its home loan division, putting 2,100 jobs […]

Former door-to-door money lender ‘surpri

Steve barras Provident, which recently withdrew from the market, said it would direct those affected by the closure of their mortgage division to their local credit union. Steve Barras, Business Development Manager for Just Credit Union, said: “While Provident was a controversial high-cost lender, we welcome their gesture in recommending credit unions as an alternative […]

“Government or money lender hungry for H

Rahul Gandhi criticized the Center for the taxes levied on rising fuel prices, calling it tax extortion. New Delhi: Congress leader Rahul Gandhi today examined the Center about its tax collections on gasoline and diesel, asking whether it is a government or a “greedy money lender old Hindi movies? His attack came a day after […]