Congress: Hands Off New Rule Protecting Families from Payday Lenders

Congress: Hands Off New Rule Protecting Families from Payday Lenders

Initially appeared in the Durham Herald and signed by both Larry Hall, Secretary of this NC Department of Military and Veterans Affairs, and Jennifer Copeland, Executive Director associated with the NC Council of Churches.

Ignoring the sounds of families and communities who possess struggled to obtain several years for respite from the harms of predatory payday financing, a couple of people in Congress have actually introduced legislation that could nullify the customer Financial Protection Bureau’s nationwide guideline to rein in payday financing abuses. Their legislation utilizes Congressional Review Act authority to repeal the guideline and stop the buyer Bureau from issuing an identical guideline as time goes by, offering predatory payday and automobile name loan providers a free pass.

This legislation, introduced by Rep. Dennis Ross (R-Fla.) and co-sponsored by Rep. Continue reading “Congress: Hands Off New Rule Protecting Families from Payday Lenders”