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Posted on October 1, 2020 at 6:16 am

Stop spend loans CFPB Releases Plan to Gut Payday Loan Protections A Gift to the Payday Loan Sharks day

Stop spend loans CFPB Releases Plan to Gut Payday Loan Protections A Gift to the Payday Loan Sharks day

FOR IMMEDIATE RELEASE: 6, 2019 february

CONTACT: Desmond Lee; desmond. [email protected]; 646-517-1826

WASHINGTON, D.C. – Today, the buyer Financial Protection Bureau (CFPB) under Trump-appointed Director Kathy Kraninger revealed an idea to gut the CFPB’s landmark 2017 payday and car title rule that is lending it even goes in impact. By eviscerating this customer security, Kraninger’s brand new plan would help predatory loan providers continue steadily to trap People in the us with debt. Especially, the proposition would get rid of the common-sense and widely supported requirement that loan providers verify that a debtor are able to repay the mortgage. Additional background at base of release. Read the rest of this entry »