For over ten years, civil legal rights companies, labor, clergy, and customer advocates have actually battled to get rid of triple-digit rates of interest on little buck loans. The push has been to free America’s working families and consumers of color from fees that can double, or even triple the amount of money borrowed whether it was a high-cost installment, payday or car-title loan.
Now, after many years of research, general public hearings and advisory discussion boards, on June 2 the buyer Financial Protection Bureau (CFPB) announced a long-awaited proposed rule. Continue reading BLACK AND LATINO LEADERS HELP STRONGER LEGISLATION OF PAYDAY AND LOANS that are CAR-TITLE