CFPB Starts Payday Regulation Drive In Richmond. In the event that you borrowed $300 from the payday lender with a cost of $60, you almost certainly do not have $360 on payday.

We joined up with the CFPB in Richmond Thursday for the industry hearing on a proposed guideline to manage payday financing and comparable high-cost short-term loans. The CFPB’s draft guideline is comprehensive, addressing many different loans, nonetheless it contains possible loopholes before it finalizes this important effort that we and other advocates will urge the […]