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Cordray affirms credit unions’ small loans, defends exemption stance

first_imgCFPB views credit unions’ payday alternative loans as a “good product” and wants to make room for those loans in its payday lending rulemaking, CFPB Director Richard Cordray told the Senate Banking Committee Thursday as he delivered his semiannual report to the panel.In testimony similar to that given last month before the House Financial Services Committee, Cordray testified before the panel about CFPB’s regulatory and enforcement activities, future rulemaking and the bureau’s regulatory relief efforts for credit unions.The CFPB director fielded numerous questions from committee members on matters important to credit unions, including consumer services and regulatory topics, such as the bureau’s exemption authority.Asked by Sen. Bob Corker, R-Tenn., what solutions are out there for small, short-term credit, Cordray noted the role of credit unions and singled out PALs as a good, law-abiding product. He added that the bureau wants to allow room for the product under any new rules on payday lending. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Carabao Cup third round draw: Manchester City travel to Preston North End and Arsenal host Nottingham Forest

first_imgThe Premier League’s elite have learned their opponents for the Carabao Cup third round (Picture: Getty)Holders Manchester City will travel to Preston North End and Arsenal will play host to Nottingham Forest in the third round of the Carabao Cup.The Premier League’s elite clubs have all entered the fray, with all seven teams competing in Europe – City, Manchester United, Chelsea, Arsenal, Liverpool, Tottenham and Wolves – discovering their fate on Wednesday evening.Championship outfits Preston and Forest will take on City and Arsenal respectively and MK Dons have been handed a home tie against Liverpool.Chelsea will play either Grimsby or Macclesfield at Stamford Bridge, while Tottenham will be making a trip to Colchester and Wolves will face Reading at Molineux.AdvertisementAdvertisementADVERTISEMENTElsewhere, south coast rivals Portsmouth and Southampton will meet at Fratton Park and 2017 winners Manchester United will host League One club Rochdale at Old Trafford. Metro Sport ReporterWednesday 28 Aug 2019 10:14 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.2kShares All 16 third round ties will be played the week beginning September 23.City have triumphed in three of their last four Carabao Cup campaigns, beating Liverpool (2016), Arsenal (2018) and, most recently, Chelsea (2019) at Wembley.United were the last team other than City to lift the trophy when Jose Mourinho led them to a 3-2 victory over Southampton back in 2017.MORE: Bolton Wanderers’ survival secured as Football Ventures complete takeover Advertisement Carabao Cup third round draw in full Wolves v ReadingOxford v West HamWatford v SwanseaBrighton v Aston VillaSheffield United v SunderlandColchester v TottenhamPortsmouth v SouthamptonBurton v BournemouthPreston v Manchester CityMK Dons v LiverpoolManchester United v RochdaleLuton v LeicesterChelsea v Grimsby/MacclesfieldSheffield Wednesday v EvertonArsenal v Nottingham ForestCrawley v Stoke Citycenter_img Comment Carabao Cup third round draw: Manchester City travel to Preston North End and Arsenal host Nottingham Forest Advertisementlast_img read more