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Letter to CFPB: Payday Rule Should Cover Longer-Term, Multi-Payment Loans

March 28, 2014
Payday and Other Small Dollar Loans
Payday Loans
Letters to Congress

American consumers need strong protections from unfair, deceptive or abusive practices in the payday and small-dollar lending markets. CRL joined Americans for Financial Reform and more than 100 other organizations to urge Richard Cordray, Director of the Consumer Financial Protection Bureau, to pass a broad rule, warning that an overly narrow rule could result in an even deeper debt trap.