Groups Condemn ‘Emergency’ Regulatory Guidance that enables Banking institutions to Make Predatory pay day loans

Most Recent Testimony and Reviews

  • Groups Urge CFPB to Abandon a Proposed Reorganization Which Would keep Consumers susceptible and Defenseless
  • Groups Urge CFPB to guard Consumers and Abandon the Proposed Advisory Opinion system
  • Groups Tell CFPB to prevent Hiding the Narratives

Washington, D.C. – Today, underneath the address of a nationwide crisis, five federal bank regulators issued tiny buck bank financing guidance that lacks the customer protections had a need to guarantee loans usually do not trap borrowers in a cycle of financial obligation. The guidance had been granted because of the customer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), nationwide Credit Union management (NCUA), Office of this Comptroller regarding the Currency (OCC). Read more