Act now! Tell CFPB to Keep Protections from Payday Loan Debt Traps

In early February 2019, the current Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger released a proposal to gut the CFPB’s 2017 rule aimed at stopping payday and car title loans from trapping people in debt. Director Kraninger’s plan would repeal the heart of the 2017 payday rule, which generally requires that lenders determine a borrower’s ability to repay a loan before making it.

Tell the CFPB to keep the payday rule by submitting comments:

Comments due by March 18 on proposed delay of the rule and May 15 on proposed repeal of the rule