Payday lenders sue regulators over Operation Choke Point crackdown
A group of payday lenders filed suit against the Federal Reserve the FDIC and the OCC claiming the anti fraud initiative targets them as reputationally risky. They allege regulators aided by the Justice Department press banks to drop payday lenders with over 80 banks cutting ties including Bank of America Capital One JPMorgan Chase and Fifth Third. The ICBA seeks suspension of Operation Choke Point and a focus on law breaking firms rather than banks providing services.
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Stay-at-home dads rise share in American families
A Pew Research Center analysis shows the rise of stay-at-home fathers to about 16 percent of all stay-at-home parents, with an estimated 2 million men caregiving, up from 1.1 million in 1989. The trend reflects tougher job markets and a long-term shift as more fathers cite caring for family as their main reason.
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