News Launch. Report: Review of Payday Complaints Reveals Requirement For More Powerful Federal Protections
CONTACT:Mike Litt, U.S. PIRG Education Fund workplace: (202) 461-3830 Cell: (702) email@example.com
Report: Research of Payday Complaints Reveals Requirement For Stronger Federal Protections
Washington, D.C. — customer complaints about pay day loans to your customer Financial Protection Bureau (CFPB) show a critical requirement for strengthening the agencyвЂ™s proposed rule to rein in payday advances as well as other high-cost financing, based on a study released today by the U.S. PIRG Education Fund.
вЂњOur analysis of written complaints to your CFPB discovered significant proof of the problem that is major pay day loans:
borrowers canвЂ™t manage these loans and become caught in a period of financial obligation.