Payday Lenders Try To Fight Borrower Protections With Fake Comments

Predatory payday lenders do not like to be told how they can and can’t abuse consumers, and they fight protections every step of the way. Months before the Consumer Financial Protection Bureau proposed a new rule in 2016 that threatens the profits of avaricious payday lenders across America, the industry’s leaders gathered at a posh resort in the Atlantis in …

U.S. House Votes to Condemn Working Families to a Never-Ending Cycle of Debt

For Immediate Release: February 14, 2018   U.S. House Votes to Condemn Working Families to a Never-Ending Cycle of Debt WASHINGTON, D.C. – In a mostly party-line vote, the U.S. House of Representatives today approved legislation that could allow predatory payday lenders to ignore existing state laws capping the interest rate lenders could charge borrowers seeking a short-term loan. HR 3299, …

Congress Introduces SAFE Lending Act to Protect Consumers

For Immediate Release: February 13, 2018 Contact: Adam Muhlendorf, Stop the Debt Trap Coalition (202) 641-6216; adam@westendstrategy.com Consumer & Community Advocates Hail Introduction of SAFE Lending Act WASHINGTON, D.C. – New legislation introduced in Congress today would provide new protections for consumers against high-risk online lenders, according to a coalition of consumer and community advocates from across the country. The …