Payday and car title lenders won’t show their true face. They want you to believe they provide a “valuable service to the community.”
The truth? They’re loan sharks with lobbyists.
Can’t pay? They’ll take your car. Need some more time? They’ll suck your checking account dry and charge you a penalty for the privilege.
The Consumer Financial Protection Bureau has proposed new rules regulating payday lenders, but they don’t go nearly far enough.
To dismantle the debt trap, payday lenders should only loan to borrowers who can afford to repay their debt.
That’s why we need your help: Tell the CFPB to plug the hole in their new rules.
This is the once-in-a-generation opportunity to rein in a detestable industry that 71 percent of Americans think needs more regulation.
We're proud to stand with members of Congress like Bernie Sanders and Elizabeth Warren. |
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