Press Announcements. Payday Lenders Adept at Evading State Law, Democratic Committee Staff Report Finds
Payday Lenders Adept at Evading State Law, Democratic Committee Staff Report Finds
Case Studies in Five States Highlight Dependence On Intense Federal Consumer Protections
State-level legislation of this payday financing industry is insufficient in protecting customers, a House Financial solutions Committee Democratic staff report unveiled, underscoring the necessity for strong federal customer defenses.
Because of the reputation for abuse in payday lending, numerous states have actually tried to limit most of these loans to be able to protect consumers. But, the report released today, вЂњSkirting what the law states: Five Tactics Payday Lenders used to Evade State customer Protection Laws,вЂќ shows exactly exactly exactly how lenders that are payday able to circumvent state laws and place consumers at an increased risk. Read More