Feinstein, Merkley, Colleagues Introduce Bill to safeguard Consumers from Predatory techniques in Payday Lending

Feinstein, Merkley, Colleagues Introduce Bill to safeguard Consumers from Predatory techniques in Payday Lending

Washington – Senator Dianne Feinstein (D-Calif.) accompanied Senator Jeff Merkley (D-Ore.), Congresswoman Suzanne Bonamici (D-Ore.), Congressman Elijah E. Cummings (D-Md.) yet others to introduce the Stopping Abuse and Fraud in Electronic (SECURE) Lending Act. The SECURE Lending Act would split straight straight down on a number of the worst abuses associated with the lending that is payday, especially in online payday lending, and protect customers from misleading and predatory methods that strip wide range from working families.

Under Trump management leadership, the customer Financial Protection Bureau (CFPB), which formerly was set to institute nationwide guidelines linked to pay day loans, has suddenly reversed course on customer defenses from payday predators. Without strong CFPB defenses at a nationwide degree, state legislation protecting customers are going to be much more important. 继续阅读“Feinstein, Merkley, Colleagues Introduce Bill to safeguard Consumers from Predatory techniques in Payday Lending”