Information Launch. Report: Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

Information Launch. Report: Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

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CONTACT:Mike Litt, U.S. PIRG Education Fund workplace: (202) 461-3830 Cell: (702) 427-1608mlitt@pirg.org

Report: Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

Washington, D.C. – customer complaints about pay day loans into the Consumer Financial Protection Bureau (CFPB) reveal a need that is critical strengthening the agency’s proposed guideline to rein in pay day loans as well as other high-cost lending, relating to a study released today by the U.S. PIRG Education Fund.

“Our analysis of written complaints towards the CFPB discovered significant evidence of the significant problem with payday advances:

borrowers can’t manage these loans and find yourself caught in a period of financial obligation. Continue reading “Information Launch. Report: Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections”