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***ADVISORY FOR TOMORROW, THURSDAY, MARCH 29*** Contact: Anjali Cadambi Anjali.Cadambi@berlinrosen.com 503-984-4020 For Immediate Release March 28, 2018 WASHINGTON, D.C. – Tomorrow at 9:30 AM ET, outside the Consumer Financial Protection Bureau’s (CFPB) headquarters, Congressman Don Beyer (D-Alexandria, Va.) and consumer advocates will hold a press conference calling for CFPB’s acting “head” Mick Mulvaney to end practices that benefit predatory payday …

  For Immediate Release March 26, 2018 CONTACT: Anjali Cadambi, anjali.cadambi@berlinrosen.com, 503-984-4020 Mulvaney Continues to Let Payday Lenders Off the Hook, Signals Intention to Drop More Predatory Lending Cases WASHINGTON, D.C. – A recent Reuters news story, “Exclusive: Trump official quietly drops payday loan case, mulls others – sources,” provides additional evidence that Trump’s unlawfully appointed Acting Director of the Consumer Financial …

March 1, 2018   Dear Members of Congress, The undersigned organizations urge your office to oppose H.J. Res. 122. This measure would repeal the Consumer Financial Protection Bureau’s (Consumer Bureau) payday rule, which curbs the ability of payday and car-title lenders to trap consumers in an endless cycle of 300% interest debt. It is imperative that Congress oppose any effort …

  For Immediate Release Senate Rolls Out Attack On Consumer Protection Against Predatory, Payday Lenders WASHINGTON, D.C. – U.S. Senator Lindsey Graham (R-S.C.) has introduced a Congressional Review Act (CRA) resolution, S.J. Res 56, which would repeal the payday and car title lending rule finalized by the Consumer Financial Protection Bureau (CFPB) in October. The announcement to roll back this …

For Immediate Release   Consumer Advocates Urge House Members to Halt Bank Payday Loan Legislation in Committee Markup    H.R. 4861 would invite banks back into the business of making harmful 200-300% interest rate loans   WASHINGTON, D.C. – Today in a committee markup meeting scheduled for 10:30 a.m. ET, the Committee on Financial Services is scheduled to begin considering a …

The undersigned consumer, civil rights and faith groups write in strong opposition to HR 4861 (Hollingsworth), the Ensuring Quality Unbiased Access to Loans Act of 2018 (EQUAL Act). The bill exempts bank payday loans (also called “deposit advance products”) from the Consumer Financial Protection Bureau’s (CFPB) payday loan rule and also nullifies the Federal Deposit Insurance Corp.’s (FDIC) deposit advance …

In April 2017, the Consumer Financial Protection Bureau sued four companies, Golden Valley Lending, Silver Cloud Financial, Mountain Summit Financial, and Majestic Lake Financial, for using sham tribal-sovereignty claims to collect debts on loans that violated an array of state laws as well as the federal Truth in Lending Act. On January 18, 2018, the bureau moved to dismiss its lawsuit. After an initial …

Golden Valley – a name that evokes a peaceful mountain valley covered with green and brownish cedars now has a new association: payday loans, and a government official who wants to let these predators off the hook. Golden Valley Lending is an online payday lender that has ripped off thousands of consumers across the country with exorbitant annual interest rates …

Predatory payday lenders do not like to be told how they can and can’t abuse consumers, and they fight protections every step of the way. Months before the Consumer Financial Protection Bureau proposed a new rule in 2016 that threatens the profits of avaricious payday lenders across America, the industry’s leaders gathered at a posh resort in the Atlantis in …

For Immediate Release: February 14, 2018   U.S. House Votes to Condemn Working Families to a Never-Ending Cycle of Debt WASHINGTON, D.C. – In a mostly party-line vote, the U.S. House of Representatives today approved legislation that could allow predatory payday lenders to ignore existing state laws capping the interest rate lenders could charge borrowers seeking a short-term loan. HR 3299, …