Congress: Hands Off New Rule Protecting Families from Payday Lenders
DURHAM, NC — Ignoring the voices of families and communities who have worked for many years for relief from the harms of predatory payday lending, a handful of members of Congress have introduced legislation that would nullify the Consumer Financial Protection Bureau’s (Consumer Bureau) national rule to rein in payday lending abuses. Their legislation uses Congressional Review Act authority to repeal the rule and prevent the Consumer Bureau from issuing a similar rule in the future, giving payday and car title lenders a free pass. This legislation, introduced by Rep. Dennis Ross (R-Fla.) and