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WASHINGTON -- A new federal agency can't protect consumers properly from financial industry abuses such as sky-high payday loans or overly risky mortgages unless Senate Republicans agree to confirm its director, two White House officials said Monday.

Collins, Snowe stall on consumer chief pick

The company made just 2 cents in the year ago period. Revenue rose to $443.6 million from $440 million a year ago despite regulatory changes in Colorado, Illinois, Virginia, Washington and Wisconsin which cut revenue to $11 million from $17.3 ...

Payday Loans Pay Off For Advance America, Stock Breaking Out

Look to Washington State who recently adopted a database much like the one Rep. Brad Daw is proposing. In that state's 2010 Payday Lending Report, the number of loans issued by regulated lenders plummeted by 67 percent but complaints increased 200 percent ...

The case against overregulated payday lending

WASHINGTON -- Goldman Sachs' decision to handle the doomed Solyndra loan earned the investment banking giant, along with a nifty payday, bad press that the besieged firm could certainly have done without. According to the now-bankrupt Solyndra ...

Goldman Sachs-Owned Firm Cashed In On Energy Department Loan Program (UPDATE)

Some states in America have brought in legislation restricting the payday loan firms. When Washington state last year limited such loans to eight loans per person a year, and gave people a ‘repayments in instalments’ option to fall back on if they got ...

Interest rates of 4,200%: We reveal the harrowing human stories of Britons taking out payday loans at extortionate rates

Washington Mutual Inc. unveiled a new proposed settlement with shareholders who have held up confirmation of its Chapter 11 plan and a $7 billion payday for creditors ... provide a $125 million senior secured loan to the new entity. The insider-trading ...

Washington Mutual, Shareholders In New Chapter 11 Plan Pact

Washington • The White House on Monday ... the oversight it can offer is limited. The actions of payday lenders, credit reporting companies and private student loan firms, for example, are off the table for the Consumer Financial Protection ...

White House urges Sens. Orrin Hatch, Mike Lee to back finance agency nominee

It notes that payday lenders charge on average $16 in fees for a $100 two-week loan, the equivalent to an annual interest rate of 400 percent. An estimated 20 million individuals rely on payday loans, according to research cited in the report.

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