CFPB Releases Plan to Gut Payday Loan Protections

  FOR IMMEDIATE RELEASE: February 6, 2019 CONTACT: Desmond Lee; desmond.lee@berlinrosen.com; 646-517-1826 A Gift to the Payday Loan Sharks  WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) under Trump-appointed Director Kathy Kraninger unveiled a plan to gut the CFPB’s landmark 2017 payday and car title lending rule before it even goes into effect. By eviscerating this consumer protection, …

Payday Loan Reform in the News – February 1, 2019

Highlight Columbia prof’s ties to payday lenders cloud CFPB rollback January 31, New York Post Kevin Dugan Since at least 2017, US regulators have relied on a single, “objective” academic study to shape restrictions on short-term, high-interest loans, which critics claim are prone to victimize cash-strapped borrowers. But the Ivy League professor behind that study — which scrutinized in particular …