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Congress: Hands Off Brand Brand New Rule Protecting Families from Payday Lenders

Congress: Hands Off Brand Brand New Rule Protecting Families from Payday Lenders

Initially appeared in the Durham Herald and finalized by both Larry Hall, Secretary of this NC Department of Military and Veterans Affairs, and Jennifer Copeland, Executive Director associated with NC Council of Churches.

Ignoring the sounds of families and communities who possess struggled to obtain several years for rest from the harms of predatory payday financing, a couple of people in Congress have actually introduced legislation that could nullify the buyer Financial Protection Bureau’s nationwide guideline to rein in payday financing abuses. Their legislation utilizes Congressional Review Act authority to repeal the guideline and stop the Consumer Bureau from issuing the same guideline later on, providing predatory payday and vehicle name loan providers a pass that is free.

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