Consumer Protection Agency Proposes Rules on Payday Loans
The Consumer Financial Protection Bureau, the fledgling agency created in the aftermath of the financial crisis, outlined on Thursday the first draft of regulations to rein in payday loans, the short-term form of credit that can come with interest rates soaring beyond 400 percent. The proposed rules could sharply reduce the
Merkley Statement on CFPB Payday Rules: “It’s Well Past Time to Break” the Endless Cycle of Payday Debt
WASHINGTON — Oregon’s Senator Jeff Merkley, the top Democrat on the Senate Consumer Protection and Financial Institutions Subcommittee, issued the following statement after the Consumer Financial Protection Bureau released new details about planned payday lending rules: “Payday lending is an abusive industry that traps working families in an endless cycle
Merkley Slams Republican Efforts to Roll Back Consumer Protection and Wall Street Reform
WASHINGTON – Oregon’s Senator Jeff Merkley, along with Senators Elizabeth Warren (D-MA) and Al Franken (D-MN), slammed Senate Republicans’ budget push to roll back consumer protections and Wall Street reform at a press conference held in the Capitol today. The Senate Budget that is being debated on the floor this
ICYMI — Consumer Protection News: Credit-Reporting Agencies to Improve Medical Debt Policies
WASHINGTON, D.C. — In Case You Missed It: This month brought big news for consumers, with credit-reporting agencies agreeing to major changes in how they treat medical debt. The three big credit-reporting agencies, Equifax, Experian, and TransUnion, will now have to wait 180 days before adding medical debt to a
Merkley: Senate Republican Budget Doesn’t Work for Working Americans
WASHINGTON – Oregon’s Senator Jeff Merkley released the following statement on the Senate Republican Budget, which was marked up in the Senate Budget Committee today: “The question I brought to this debate was, will this be a budget that works for working Americans? Or will it be a budget for
Merkley Urges CFPB to Issue Tough Payday Rules, Protect Consumers from Predatory Loans
WASHINGTON – Today, Oregon’s Senator Jeff Merkley – the top Democrat on the Senate Banking Subcommittee on Financial Institutions and Consumer Protection – strongly urged the Consumer Financial Protection Bureau (CFPB) to crack down on destructive predatory lending by issuing new, tough rules that would protect consumers from damaging and
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