PRESS STATEMENT. NCLR Praises CFPB Rule to Curb Predatory Payday Lending Techniques
PRESS STATEMENT. NCLR Praises CFPB Rule to Curb Predatory Payday Lending Techniques
NCLR Praises CFPB Rule to Curb Predatory Payday Lending Methods
Rule is an excellent step that is first but more needs to be performed to close loopholes
WASHINGTON, D.C.—Today, NCLR (National Council of Los Angeles Raza) applauded the production of a proposed guideline through the customer Financial Protection Bureau (CFPB) to modify the payday financing industry. The industry has a brief history of pushing out unsafe economic items that trap many hardworking Americans, including Latinos, in a debt period, and also this proposed guideline is welcome relief for many customers whom live paycheck-to-paycheck. Nevertheless, NCLR additionally urges the CFPB to shut a few loopholes that nevertheless enable a few of the worst payday financing practices to keep. […]