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CFPB Should Leave Cash Advance Customers Alone

CFPB Should Leave Cash Advance Customers Alone

The buyer Financial Protection Bureau (CFPB) is completing brand new regulations that could finally power down payday loan providers, and there’s no indicator they’ll modification program. Some people in Congress have actually attempted to remain true when it comes to version that is state-regulated of industry, nevertheless the tide is against them.

This past year, an advocacy team established an advertising campaign through the Discovery Chanel’s Shark Week, painting the pay day loan industry as a lot of vicious predators. And superstars John Oliver and Sarah Silverman joined up with forces, begging visitors to “literally do just about anything else” but sign up for pay day loans.