North Carolina Consumer Protections Remain Crucial As CFPB Releases New Payday Lending Rule
FOR IMMEDIATE RELEASE October 5, 2017 North Carolina Consumer Protections Remain Crucial As CFPB Releases New Payday Lending Rule North Carolina Usury Cap Keeps Loan Sharks at Bay Durham, NC — While consumers in states that are burdened by predatory payday lending will benefit from a final rule issued today by the Consumer Financial Protection Bureau (CFPB), North Carolina has already eliminated payday lending altogether and established a 30% interest rate cap for consumer loans. Our cap is a much more effective protection than the CFPB rule, as it saves North Carolina families over $457...