Consumer and Civil Rights Groups Send Letters to FDIC, OCC, and Fed Urging them to Prevent Bank Payday Loans
Letters come after news that regulators pursuing joint small-dollar policy Growing concern that several Administration appointees may be giving green light for predatory loans WASHINGTON, D.C. – Today, the Center for Responsible (CRL) joined a coalition of national consumer and civil rights groups in writing to top banking regulators on the importance of preventing banks from once again issuing payday loans that trap people in a cycle of debt. The groups pointed to a recent letter from more than 400 organizations to the Consumer Financial Protection Bureau (CFPB), which “ prominently stressed