CFPB rollback of cash advance protection attracts criticism

CFPB rollback of cash advance protection attracts criticism

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Overview

Customer advocates decry lack of enforcement actions and reopening of cash advance regulation by customer watchdog agency led by Trump appointee.

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Borrower beware: Federal defenses from high-cost loans are increasingly being rolled straight straight right back included in a deregulation that is broad, prompting an outcry from customer advocates plus some policymakers.

“This is just a modern-day type of slavery,” U.S. Rep. Don Beyer (D-Va.) stated during a loan that is anti-payday and news seminar March 29 in Washington, D.C. Continue reading “CFPB rollback of cash advance protection attracts criticism”