Payday loan providers prey regarding the bad, costing People in america billions. Will Washington work?

Payday loan providers prey regarding the bad, costing People in america billions. Will Washington work?

The minimally regulated, fast growing lending that is payday strips Americans of billions yearly. It’s the perfect time when it comes to brand new Consumer Financial Protection Bureau to implement laws to curb predatory lending so that a $400 loan does not put a debtor 1000s of dollars with debt.

September 6, 2011

Today, the Senate Banking Committee convenes to go over the verification of Richard Cordray, nominated to be the very first mind associated with customer Financial Protection Bureau (CFPB). About this historic time, as President Obama makes to provide a message addressing the nation’s continuing jobless crisis, we urge our elected officials as well as the CFPB leadership to focus on oversight associated with payday financing industry. Continue reading “Payday loan providers prey regarding the bad, costing People in america billions. Will Washington work?”