Lawyers’ Committee for Civil Rights Under Law Submits touch upon CFPB’s Notice of Proposed Rulemaking To Roll Back Payday Loan Rule

Lawyers’ Committee for Civil Rights Under Law Submits touch upon CFPB’s Notice of Proposed Rulemaking To Roll Back Payday Loan Rule

Washington, D.C. – Today, the Lawyers’ Committee for Civil Rights Under Law presented a touch upon the buyer Financial Protection Bureau’s Notice of Proposed Rulemaking (NPRM) to roll straight back the 2017 pay day loan Rule, which regulates payday advances, car name loans, as well as other forms of expensive loans targeted at low-income communities of color with dismal credit. The Lawyers’ Committee also published a study analyzing the economic impact of the loans, finding targeting that is disproportionate and problems for these communities.

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