CFPB Field Hearing on Payday Lending Made Remarks of Michael D. Calhoun

CFPB Field Hearing on Payday Lending Made Remarks of Michael D. Calhoun

CRL president Mike Calhoun delivered the testimony that is following the customer Financial Protection Bureau field hearing on payday advances in Richmond

Starting Remarks

Many thanks for the chance to engage on today’s panel. It is a hearing that is critical the scores of working families that are snared within the financial obligation trap of unaffordable loans.

The annals regarding the legislation of payday lending takes us to your states. Payday loans were legalized just in fairly years that are recent just in a few states, because of payday loan providers’ pressing for an exclusion to a situation’s interest restriction. CFPB Field Hearing on Payday Lending Made Remarks of Michael D. Calhoun 더보기