Early look at payday rule shows important reforms, concerns

first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr CUNA’s initial analysis of the Consumer Financial Protection Bureau’s (CFPB) small-dollar proposed rule found some important reforms to predatory lending, but consumer-friendly credit union products appear to be swept in as well. CFPB Director Richard Corday praised the credit union lending model during the bureau’s field hearing Thursday, and has told CUNA to inform the bureau about credit union products that are affected by the rule.The CFPB’s proposal adds restrictions on payday, title, and high-cost installment loans that meet certain requirements.CUNA will work closely with the CFPB to highlight parts of the proposal that could add to credit unions’ regulatory burden. Several CUNA-requested changes were made from the versions of the proposal released in March 2015 via the Small Business Regulatory Enforcement Fairness Act.The NCUA’s Payday Alternative Loan (PAL) program is mentioned a number of times in the rule. It is a short-term, small-dollar product with interest limited to 28% and application fees capped at $20. continue reading »last_img read more


Wellington Police Notes: Thursday, August 29, 2013

first_imgWellington Police notes for Thursday, August 29, 2013•1:49 a.m. Officers took a report of a suicidal subject in the 500 block N. G, Wellington.•8:45 a.m. Kelli R. Sewell, 39, Wellington was issued a notice to appear charged with dog at large.•2:17 p.m. Deanne M. Heersche, 50, Mulvane, was issued a notice to appear charged with passing a stationary emergency vehicle.•2:25 p.m. Officers investigated criminal damage to property in the 400 block W. 16th, Wellington.•4:38 p.m. Officers investigated a battery and child of a known suspect in need of care in the 700 block S. Blaine, Wellington.•8:09 p.m. Officers took a report of a runaway in the 700 block N. Olive, Wellington.•11:29 p.m. Officers investigated a theft of a known suspect in the 2000 block E. 16th, Wellington.last_img read more



first_imgThe new Raphoe Playground will open later today.After four years of planning and fundraising, Raphoe will finally open its new community playground today.The opening, which takes place at 2pm, will be a hugely proud moment for organisers Jean Laird and the rest of the hardworking committee.The new state-of-the-art playground is located beside the community’s local boxing club after Donegal County Council donated the land. After the land was donated, the hard-working committee set about fundraising for all the playground equipment.Last night former Mayor of Donegal and local councillor Frank McBrearty paid tribute to all those involved in the project.Cllr McBrearty will officially open the new playground later today.He said “I would like to congratulate the hard working committee that have made this project possible and to the community of Raphoe and further afield for their help in supporting all the fund raising events. It was an honour for me to be part of this and its great to see what can be achieved when a community comes together.”  IT’S CHILD’S PLAY FOR RAPHOE AS RIBBON TO BE CUT ON SUPERB NEW FACILITY was last modified: April 19th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalFrank McBreartyplaygroundRaphoelast_img read more