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AG HERRING CONTINUES TO OPPOSE TRUMP MANAGEMENT ROLLBACK OF COMMONSENSE DEFENSES FOR PAY DAY LOAN BORROWERS

AG HERRING CONTINUES TO OPPOSE TRUMP MANAGEMENT ROLLBACK OF COMMONSENSE DEFENSES FOR PAY DAY LOAN BORROWERS

Coalition of attorneys general opposes move to rescind CFPB guideline built to protect customers from dangerous financial obligation traps

RICHMOND (might 16, https://badcreditloanzone.com/payday-loans-ok/ 2019) – Attorney General Mark R. Herring today joined up with a coalition of 25 attorneys general opposing the Trump management’s efforts to get rid of guidelines protecting customers from abusive payday and car name loans. The states filed a formal remark page using the customer Financial Protection Bureau (CFPB) opposing its proposed repeal of guidelines used in 2017 to safeguard customers from extortionate rates of interest as well as other predatory techniques that trap consumers in rounds of financial obligation, while preserving use of less-risky forms of short-term credit.Read More