Please sign the letter to the Consumer Financial Protection Bureau
establishing the first set of federal regulations specifically focused on small-dollar lending. Docket No: CFPB-2016-0025
Why is this important?
For years, some small-dollar lenders—offering products such as payday loans, deposit advances, vehicle title loans, and high-cost installment loans—have extracted billions of dollars in abusive fees and high interest rates from the very consumers and communities who can afford it the least. The result has left millions of consumers trapped in an endless cycle of debt.
Finally, the Consumer Financial Protection Bureau is proposing rules that will protect consumers.
Ask all Pennsylvania Members of Congress to sign on in support.