As House Convenes on Predatory Lending, Consumer Advocates Press for Congressional Action on Payday Debt Traps

This afternoon, the House Financial Service subcommittee on Consumer Protection and Financial Institutions will hold a hearing entitled, “Ending Debt Traps in the Payday and Small Dollar Credit Industry.” The hearing that will touch on the predatory nature of payday lending, the terrible decision of the CFPB to propose crippling crucial consumer protections on this form of credit, and new …