Link roundup: 6 subprime stories you might have missed this weekend

Inside Subprime: August 14, 2017

By Caroline Thompson

Good morning! Here’s all the financial news you might have missed in the wake of all those nuclear threats and Nazi rallies:

Oklahoma has the highest payday loan usage in the country. 

One in eight Oklahomans have taken out a payday loan, compared with the national average of one in 20 people. Read more at EnidNews.com.

Online lender SoFi faces sexual harassment lawsuit.

A former employee is suing the company because he claims he was fired for reporting sexual harassment he witnessed against female employees.

Read more at:

Wells Fargo in hot water (again) for preying on small business owners. 

A group of small business owners is suing the embattled bank for charging confusing, illegal fees on their accounts.

Read more at:

Did Dodd-Frank go far enough?

Bloomberg has a hot take on the the financial reform of the last decade. (Spoiler alert: They don’t think the reforms did enough to curtail subprime auto loans. And we agree.)

Victims of for-profit school scams still paying for pointless loans. 

While the U.S. Department of Education has agreed to wipe out some loans taken out by victims of for-profit school scams, many students are still stuck paying hundreds of dollars every month for an education that failed them.

Read more at:

New Jersey Governor Chris Christie signs law that limits student borrowing. 

In an attempt to curb predatory lending practices, a new law in New Jersey caps student borrowing at $150,000 and requires students first exhaust all federal student loan options before turning to the New Jersey Higher Education Assistance Authority.

Read more at:


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