CRL's Testimony: A National Payday Charter Is A Bad Idea
Testimony of Kenneth W. Edwards Vice President of Federal Affairs, Center for Responsible Lending, before the House of Representatives Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit in regards to hearing on Examining Consumer Credit Access Concerns. The testimony emphasized three points: H.R. 6139 and similar legislation would circumvent the carefully contemplated supervisory, enforcement, and rulemaking authority of the Consumer Financial Protection Bureau (CFPB or Bureau) over certain non-depository financial institutions. The Dodd-Frank Wall...