The Consumer Financial Protection Bureau (CFPB) is holding a field hearing in Richmond today and will announce that it is publishing an outline of proposals under consideration that would end payday debt traps by requiring lenders to take steps to make sure consumers can repay their loans.  The strong consumer protections being considered would apply to payday loans, vehicle title loans, deposit advance products, and certain high-cost installment loans and open-end loans.

For more information, please see the factsheet summarizing the proposals under consideration at http://files.consumerfinance.gov/f/201503_cfpb-proposal-under-consideration.pdf.

Today’s field hearing will be livestreamed at 12:00 p.m. at www.consumerfinance.gov.