Take Action by May 15th The CFPB is trying to gut a rule that protects consumers from predatory payday and auto lenders. In October 2017, the Consumer Financial Protection Bureau (CFPB) issued a final national rule that requires lenders to … Continued
A vote on the payday lending bill has been postponed for the time being after advocates quickly got out the word on how harmful it would be to legalize high-cost predatory loans through HB 2429. As predicted, the payday lenders … Continued
Posted at https://www.chn.org/2018/05/18/consumer-protections-payday-lenders-survive-now/#.Wv7e7-4vwdU By David Elliot May 18, 2018 The Trump Administration, payday lenders, and their allies in Congress have been working for some time now to roll back protections designed by the Consumer Financial Protection Bureau (CFPB) to restrict the … Continued
From Prosperity Now (https://prosperitynow.org/): TAKE ACTION: The House of Representatives is poised to open a huge loophole in state interest rate caps and the right of state voters to enact rate caps, effectively giving the green light to payday lenders … Continued
Posted at https://www.chn.org/2018/01/19/payday-lending-cycle-debt-desperation/#.WmI_oa6nEdU By David Elliot January 19, 2018 During the past year, payday lenders and those who issue car-title loans have taken more than $8 billion in fees and interest from families in the U.S. who took out loans that operate as … Continued
Please note quote by Rev. Sandy Strauss of the Council below. Vow to Remain Vigilant in Preserving PA’s Existing Protections Against Predatory Lending HARRISBURG – Today, the Consumer Financial Protection Bureau (CFPB) issued federal regulations to protect borrowers from the … Continued
From Americans for Financial Reform (http://www.ourfinancialsecurity.org): The House of Representatives voted to strip the CFPB of all authority over payday lenders. The House Appropriations Bill includes language to eliminate the Consumer Bureau’s authority to enforce the law against payday lenders … Continued
Posted at https://ourfuture.org/20170724/its-loan-shark-week-families-are-biting-back July 24, 2017 Jessica Juarez Scruggs It’s Shark Week, but the most dangerous predators this year aren’t on TV or at the beaches – they are in Washington D.C., where they are menacing families with the help of … Continued
The Council has supported the Consumer Financial Protection Bureau’s (CFPB) efforts to issue a strong rule to curb predatory payday lending by signing a letter drafted by the Faith and Credit Roundtable and the Center for Responsible Lending. There are increasing efforts … Continued
From Americans for Financial Reform (http://www.ourfinancialsecurity.org): Congressional opponents of the Consumer Financial Protection Bureau are threatening to block the CFPB’s prepaid card rule – a common sense rule to stop fraud and predatory overdraft charges on prepaid cards and to … Continued