Editor’s note: The CFPB, a federal agency, has proposed new rules for payday, car title, and high-cost installment lenders.
BUT, they need to hear from consumers- that means you! We have an easy-to-use page where you can weigh in- it only takes a minute and will help bring about important consumer protections with these loans. Please share a line or two in the comments box about why you care about this issue and want to see strong federal reforms.PS: You do NOT have to be a payday, car title, or installment borrower to sign the petition.
Eighty-five community leaders attended the Payday Lending Reform Strategy Convening at the Los Angeles Labor Federation, AFL-CIO in downtown Los Angeles. Attendees heard interesting discussions and presentations about payday lending reform approaches from numerous leaders and experts, including Congresswoman Maxine Waters, Los Angeles City Attorney Mike Feuer, and Los Angeles County Labor Federation director Maria Elena Durazo.
Sponsors of the event included the Coalition Against Payday Predators, Law Foundation of Silicon Valley, Center for Responsible Lending, California Reinvestment Coalition, and Public Counsel. Experts from Housing and Economic Rights Advocates, Bet Tzedek, National Council of La Raza, Western Center on Law and Poverty, East LA Community Corporation, L.A. Financial Empowerment Initiative, and Consumers Union participated.
Four television stations covered the event, including Univision.
For photographs of the event, please visit the CAPP Facebook album below:
To view live tweets of the event, search #paydayreform…
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