Trump’s CFPB Deploys Predatory Lenders as Pandemic First Responders

Exterior view of a Payday Loan Store in downtown Chicago, Illinois, 2019.

The House and Senate hearings provided a necessary public accounting of the CPFB. However, without federal intervention, people will have little choice but to rely on predatory lenders and their high-cost debt for surviving the pandemic. And they’ll have fewer protections, thanks to the CFPB’s final rule that promises to widen racial economic inequality during a pandemic instead of narrowing it.

via Trump’s CFPB Deploys Predatory Lenders as Pandemic First Responders

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