Skip to main content

Search form

Consumer protection bureau changes direction, will reconsider rule that sets stricter limits on payday lending

Tuesday, January 16, 2018
Renae Merle | Washington Post
Rebecca Borné

“Today’s announcement is a big deal and could become a terrible deal for consumers,” said Rebecca Borné, senior policy counsel at the Center for Responsible Lending. “The human devastation caused by payday loans, which average nearly 400 percent APR, has been extensively documented.”