Jobs and Income Rent-a-bank schemes would undercut Maine’s borrower protections Maine has a long tradition of consumer protection, drawing on a shared commitment to transparency and fairness for borrowers. Lawmakers recently extended Maine’s track record by shoring […] Arthur Phillips Posted April 10, 2023 Tags Consumer Protection, Economic Security, Predatory Lending, Racial Equity
Jobs and Income, Maine’s Economy Predatory Lending — An Explainer What is predatory lending? Lenders are considered predatory when they use practices that involve fraudulent, unfair, and abusive loan terms, including ultra-high interest rates and fees, aggressive […] MECEP Posted March 24, 2023 Tags Consumer Protection, Economic Security, Explainer, Inclusive Economy, Predatory Lending
Maine’s Economy Feeling the Pinch: Inflation and corporate consolidation Prices are rising and Mainers are feeling the pinch. At the same time, some of the world’s largest corporations are reporting record profits. The mismatch between Mainers […] James Myall Posted June 20, 2022 Tags Children, Consumer Protection, Economic Security, Economy, Food Insecurity, Inflation, Tax Fairness, Taxes
Education To help students finish their degrees and ease workforce challenges, Maine should reform transcript withholding College education is a critical tool for Mainers to boost their income and for a stronger economy. We should be seeking opportunities to support students, especially individuals from households with […] Arthur Phillips Posted February 15, 2022 Tags Consumer Protection, Economic Security, Education, Higher Education
Education Protections for private student loan borrowers protect seniors and people with disabilities In 2019, Maine led the nation by passing the Student Loan Bill of Rights (SLBOR) to address the predatory loan servicing practices that are exacerbating Maine’s student […] MECEP Posted May 18, 2021 Tags Consumer Protection, Education, Higher Education, Student Debt
Maine’s Economy Maine must continue its clampdown on predatory lenders Lawmakers in Augusta have done good work in recent years to begin curbing predatory payday lenders from saddling Mainers with crushing, unfair debt. Now, they have an […] Jody Harris Posted March 16, 2021 Tags Consumer Protection, Economic Security
Jobs and Income New federal rules give shady lenders green light to scam Mainers Payday lenders are exploiting loopholes to evade Maine’s consumer protection laws. Their shadowy practices are leaving Mainers in the lurch. Now, the Trump administration is floating a rule change that would let predatory corporations fleece […] Jody Harris Posted October 2, 2020 Tags Consumer Protection, Federal
Maine’s Economy Consumer Finance Watchdog Agency Delivers a Gut Punch to Maine Consumers Last week, the Consumer Financial Protection Bureau (CFPB) released new regulations on payday lenders. Instead of reigning in the notoriously greedy industry, the Bureau eliminated common sense […] Jody Harris Posted July 17, 2020 Tags Consumer Protection, Federal
Maine’s Economy Facing income crunch from coronavirus, debt-burdened Americans need relief now As tens of thousands of Mainers face lays offs and unemployment, two things will happen: With no earnings coming in, they will default on their loans and […] Jody Harris Posted April 7, 2020 Tags Consumer Protection, Coronavirus, Student Debt
Maine’s Economy Trump's weak debt collector rules would leave Mainers vulnerable to harassment and scams Robo-calls from unrecognized or blocked numbers, calling for payments that we don’t owe. Collection agencies calling multiple times per day, failing to identify themselves, lying about what’s […] Jody Harris Posted July 24, 2019 Tags Consumer Protection, Federal