Lawyers’ Committee for Civil Rights Under Law Submits touch upon CFPB’s Notice of Proposed Rulemaking To Roll Back pay day loan Rule

Lawyers’ Committee for Civil Rights Under Law Submits touch upon CFPB’s Notice of Proposed Rulemaking To Roll Back pay day loan Rule

Washington, D.C. – Today, the Lawyers’ Committee for Civil Rights Under Law presented a touch upon the buyer Financial Protection Bureau’s Notice of Proposed Rulemaking (NPRM) to move right straight right back the 2017 pay day loan Rule, which regulates pay day loans, automobile name loans, along with other kinds of high priced loans directed at low-income communities of color with dismal credit. The Lawyers’ Committee also published a written report analyzing the commercial effect of the loans, finding disproportionate targeting at and problems for these communities.

The customer Financial Protection Bureau (CFPB) enacted the pay day loan Rule in October 2017 after many years of outreach, research, and post on over a million comments that are public customer advocates, payday loan providers, state regulators, among others. Continuar leyendo «Lawyers’ Committee for Civil Rights Under Law Submits touch upon CFPB’s Notice of Proposed Rulemaking To Roll Back pay day loan Rule»