As CFPB Continues Work on Payday Lending Protections, Congress Pushes Effort to Weaken Consumer Bureau
One year ago, CFPB issued a proposed rule to stop the debt trap. Today, Congress seeks to advance bill to gut CFPB and give a free pass to payday lenders. The CFPB's ability to issue a strong rule against the abuses of 300% payday loans is exactly why Congress should be defending the CFPB, not attacking it. WASHINGTON, D.C. – Consumer advocates and civil rights organizations are calling on Congress to let the Consumer Financial Protection Bureau (CFPB) finish its job of finalizing a strong rule on payday and car-title lending. A year ago today, people from across the country gathered in Kansas