Support for LAist comes from
Become a sponsor
Audience-funded nonprofit news
Donate
Stay Connected

LAist is part of Southern California Public Radio, a member-supported public media network.

Audience-funded nonprofit news
Listen
Donate
Podcasts Take Two
Federal regulators act to restrict banks' payday lending
solid orange rectangular banner
()
Take Two Logo
Apr 25, 2013
Listen • 6:38
Federal regulators act to restrict banks' payday lending
This week, federal regulators are expected to issue new guidance to banks related to loans that resemble the much criticized payday loan. Many feel that the new rules may mandate that banks evaluate a consumers' ability to repay a loan and limit how often they can get one.
Payday lending company Cash America is accused of robo-signing, overcharging military members and impeding a federal investigation.
A general view of a 'Speedy Cash' cash loans shop on Brixton High Street on November 1, 2012 in London, England. The recession has changed the face of the UK's high streets, which have seen a boom in bookmakers, discount stores, charity shops, cheque cashing (payday loans) and pawnbrokers as cash-strapped Brits struggled with their finances.
(
Dan Kitwood/Getty Images
)

This week, federal regulators are expected to issue new guidance to banks related to loans that resemble the much criticized payday loan. Many feel that the new rules may mandate that banks evaluate a consumers' ability to repay a loan and limit how often they can get one.

This week, federal regulators are expected to issue new guidance to banks related to loans that resemble the much criticized payday loan. Many feel that the new rules may mandate that banks evaluate a consumers' ability to repay a loan and limit how often they can get one.

We'll speak with Alan Zibel from the Wall Street Journal.