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Groups Condemn ‘Emergency’ Regulatory Guidance which allows Banking institutions to Make Predatory payday advances

Most Recent Testimony and Reviews

  • Groups Urge CFPB to Abandon a reorganization that is proposed Would keep customers susceptible and Defenseless
  • Groups Urge CFPB to safeguard Consumers and Abandon the Proposed Advisory advice system
  • Groups Tell CFPB to get rid of Hiding the Narratives

Washington, D.C. – Today, beneath the address of a crisis that is national five federal bank regulators issued tiny buck bank financing guidance that lacks the customer defenses necessary to guarantee loans try not to trap borrowers in a cycle of financial obligation. The guidance ended up being given because of the customer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), nationwide Credit Union management (NCUA), Office for the Comptroller associated with the Currency (OCC). Continue reading