North Carolina

Dear Coalition Supporters, This update covers important predatory lending developments over the past few months, including action at the NC General Assembly, challenge of the payday rule in Congress (spoiler, we won!), threats to our state usury cap, rollback of federal student loan protections, and recent CRL research. NC General Assembly: What Happened? House Bill 810, backed by the NC-based...

Dear Coalition supporters, At a time when victories are hard to come by, please take a minute to celebrate a big win! We stopped Congress from rolling back the Consumer Financial Protection Bureau’s national payday rule. Last week, the clock ran out on efforts to use the fast-track Congressional Review Act to repeal the rule and prevent the bureau from...

In our January 2017 CRL Issue Brief, States without Payday and Car-title Lending Save $5 Billion in Fees Annually, we estimated that consumers in states without payday and car title lending save over $5 billion in fees each year – $2.2 billion in payday fees saved, plus another $2.8 billion in car title fees saved. In this earlier Issue Brief...

Over 100 North Carolina organizations have joined this state sign-on letter to strongly oppose payday lending. These groups include military and veterans associations, faith organizations, housing and credit counseling agencies, rural, business, civil rights, seniors and labor groups, among many others. They urge our North Carolina congressional delegation to strongly oppose H.J. Resolution 122 and S.J. Resolution 56, fast-track measures...

FOR IMMEDIATE RELEASE October 5, 2017 North Carolina Consumer Protections Remain Crucial As CFPB Releases New Payday Lending Rule North Carolina Usury Cap Keeps Loan Sharks at Bay Durham, NC — While consumers in states that are burdened by predatory payday lending will benefit from a final rule issued today by the Consumer Financial Protection Bureau (CFPB), North Carolina has...