Broad Coalition Rebukes CFPB Political Leadership for Letting Predatory Payday Lenders Hurt People Hardest Hit by Covid-19 Pandemic

As more and more families fall on hard times, the CFPB keeps them exposed to 400% interest rate payday loan debt traps that disproportionately harm Black and Latino communities WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB), under the leadership of Trump-appointed Director Kathy Kraninger, issued a final rule that destroys consumer protections meant to prevent payday and car-title …