The Consumer Financial Protection Bureau (CFPB) reversed course on national rules slated to go into effect this year instituting consumer protections from payday loan predators under Trump Administration leadership. Without strong CFPB defenses at a level that is national state laws and regulations protecting customers may be much more crucial.

I saw up close how payday lenders trapped families in my blue collar neighborhood in an inescapable vortex of debt, ” said Merkley“Before we kicked the payday lenders out of Oregon. “The customer Financial Protection Bureau’s work is always to protect customers, not to ever protect payday that is predatory. We have to stop the Trump Administration’s plot to remove away important consumer protections, protect state rules like Oregon’s, and produce guardrails to avoid customers from stepping into a cycle of never-ending debt. More