Senators urge CFPB to issue “strongest possible rules” for payday lending

"As the Consumer Financial Protection Bureau (CFPB) considers new rules to rein in predatory practices in payday and similar types of lending, Senator Merkley and 31 of his Senate colleagues expressed their support today for the initial steps the agency has taken and urged the agency to issue the strongest possible rules to combat the 'cascade of devastating financial consequences' that these high-priced loans often have on consumers."

Read the Senators' full press release here. The Senators' letter is reprinted at the end of the release.

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