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BLACK AND LATINO LEADERS HELP STRONGER REGULATION OF PAYDAY AND LOANS that are CAR-TITLE

BLACK AND LATINO LEADERS HELP STRONGER REGULATION OF PAYDAY AND LOANS that are CAR-TITLE

For over 10 years, civil legal rights businesses, work, clergy, and customer advocates have actually fought to get rid of triple-digit rates of interest on little buck loans. The push has been to free America’s working families and consumers of color from fees that can double, or even triple the amount of money borrowed whether it was a high-cost installment, payday or car-title loan.

Now, after several years of research, general public hearings and advisory forums, on June 2 the customer Financial Protection Bureau (CFPB) announced a long-awaited proposed rule.