There’s something you can do to celebrate workers this month. Write to the Consumer Financial Protection Bureau (CFPB) to urge them to continue to regulate the payday lending industry. Your message will be a public comment that the agency will have to take into consideration before they change their rules.
Payday and car title lenders profit off the suffering of low-wage workers. Shouldn’t lenders have to make sure that when they offer a loan the consumer can pay it back?
We worked hard for years to convince Congress to set up the CFPB and put these rules in place so that hard working people would not be preyed on by this industry. Now the CFPB Director wants to stop enforcing some of the rules.
Our partners at Stop the Debt Trap have created an easy portal you can use to submit a public comment. The deadline is May 15.
Please submit a comment and protect working families from predatory loans.
Ebony B. Guy
State Governing Board Member