Skip to main content

Search form

Toolkit: Tell CFPB to Keep Protections from Payday Loan Debt Traps

February 28, 2019
Payday and Other Small Dollar Loans
Policy & Legislation

In early February 2019, the current Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger released a proposal to gut the CFPB’s 2017 rule aimed at stopping payday and car title loans from trapping people in debt. Director Kraninger’s plan would repeal the heart of the 2017 payday rule, which generally requires that lenders determine a borrower’s ability to repay a loan before making it.

The payday loan debt trap is devastating. Download the toolkit for a background on the rule and three ways for you to take action today!