Groups around the country are responding to the Consumer Financial Protection Bureau’s proposed rule. Here is what many of them have to say:
Stop The Debt Trap: The CFPB’s Payday Lending Proposed Rule:
What Works, What Doesn’t
Joint Statment: AFR, 9 Organizations Call the Payday Rule a Good Beginning
National Groups:
Allied Progress: CFPB’S New Payday Rule A “Good Start”
Americans for Financial Reform: Historic Opportunity to End Predatory Payday Lending
Appleseed Network Calls for Real Safeguards for Users of Payday Loans as Federal Government Proposes New Protections
Center for American Progress: CFPB Rule is a Major Step Toward Reining in Predatory Debt Traps
Center for Responsible Lending: CFPB Payday/Car-Title Proposal Reduces Debt Trap Lending, But Needs Strengthening
Consumer Action: Payday, car title loan rule could save U.S. consumers millions
Consumer Federation of America: CFPB Proposes Sweeping Reforms to Stop Payday and Car Title Loan Debt Traps
Consumers Union: CFPB Proposes Rules to Protect Consumers From Payday Loan Debt Traps
Habitat for Humanity applauds Consumer Financial Protection Bureau for proposing rule to regulate payday debt traps
Jubilee USA: Consumer Protection Bureau Unveils New “Payday” Lending Rules
The Leadership Conference for Civil and Human Rights: Civil and Human Rights Leader Testifies in Favor of Payday Lending Regulations for the Consumer Financial Protection Bureau
Main Street Alliance: CFPB’s Proposed Rule Would Protect the Lifeblood of Small Businesses
The National Consumer Law Center: CFPB Proposes Strong Rules to Protect Payday Borrowers Yet Worrisome Loopholes Need Tightening
National Council of La Raza NCLR Praises CFPB Rule to Curb Predatory Payday Lending Practices English Spanish
NCRC: CFPB’s Proposed Rule on Payday and Car Title Lending
The PICO Network: Faith Leaders Intensify the Battle to Protect Consumers against “Morally Corrupt” Payday Lenders & Predatory Lending
Public Citizen: Public Citizen Commends CFPB for Combating Predatory Lending Abuses
Reinvestment Partners: CFPB Reforms to Payday and Auto Title Loans are Laudable, but Additional Protections are Necessary
Shriver Center: Federal Regulations Issues That Have Potential To Rein In Abusive Payday Lenders
US PIRG: CFPB Draft a Good Beginning But Still Needs Work, Strengthening
Local Groups:
Alabama Arise: CFPB action on payday and title loans a good start, but Alabama still needs state-level reforms
California Reinvestment Coalition: National Payday Rule a Critical Step towards Protecting Consumers
Community Legal Services: Testimony to the CFPB (Philadelphia)
Florida Alliance for Consumer Protection: National Payday Rule Could Save Florida Millions
Georgia Watch: CFPB Issues Proposed Lending Rule
Helping Hands Ministry supports CFPB rules, advocates for even stronger protections
Jesuit Social Research Institute: National Payday Rule Could Save Louisiana Consumers Millions But Proposed Rule Still Needs Strengthening
Kentucky Coalition for Responsible Lending: KCRL supports federal payday regulations that could save Kentuckians millions
Maine Center for Economic Policy: New Federal Rule Cracks Down on Predatory Lenders, Protects Consumers
North Dakota Economic Security and Prosperity Alliance: National Payday Rule Could Save North Dakota Millions
PENNPIRG: National Payday Proposal Leaves Pennsylvania Vulnerable
Policy Matters Ohio: Federal crackdown on predatory lending welcomed
South West Center for Economic Integrity: National Payday Rule Could Save Arizona Consumers Millions
Religious Action Center (DC): Payday Lending Rule Important Step Toward Economic Justice
Tennessee Citizen Action: TNCA Demands Action on Payday Lending
Virginia Interfaith Center supports new federal rules on payday lending
Virginia Organizing and Virginia Poverty Law Center Release Virginia Lending Report and Discuss New CFPB Rules for Predatory Lending
WISPIRG: Advocates Say Rule Still Needs Work, Strengthening
Woodstock Institute: National Payday Rule Could Save Illinois Millions
West Virginia Center on Budget and Policy: National Payday Lending Rule Has Potential Pitfalls for West Virginia
Elected Officials:
Statements have been issued by the following members:
Sen. Richard Blumenthal (D-CT)
Sen. Sherrod Brown (D-OH)
Sen. Dick Durbin (D-IL)
Sen. Jeff Merkley (D-OR)
Sen. Patty Murray (D-WA)
Rep. Suzanne Bonamici (D-OR)
Rep. Elijah Cummings (MD)
Rep. Luis Gutierrez (D-IL)
Rep. Terri Sewell (D-AL)
Rep. Maxine Waters (D-CA)
The following elected officials have posted responses to social media:
Sen. Al Franken (D-MN)
Sen. Elizabeth Warren (D-MA)
Rep. Tammy Duckworth (D-IL)
Rep. Debbie Wasserman Schultz (D-FL)