Brown Urges Action to end Predatory Payday Lending

Brown Urges Action to end Predatory Payday Lending

WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) –– ranking person in the U.S. Senate Committee on Banking, Housing, and Urban Affairs –– urged the nation’s top consumer agency to determine strong guidelines to combat predatory techniques within the pay day loan market. The customer Financial Protection Bureau (CFPB) happens to be considering brand new guidelines to deal with payday financing, a training that frequently traps borrowers in a period of financial obligation . In a page to CFPB Director Richard Cordray, Brown joined more than 30 Senators in calling on the agency to create rules that will rein in payday lenders in Ohio and nationwide yesterday. Continue reading «Brown Urges Action to end Predatory Payday Lending»