OCC Opens Door For Abusive Bank Payday Lending

OCC Opens Door For Abusive Bank Payday Lending

Agency choice to rescind bank payday guidance draws critique from significantly more than 100 faith leaders, consumer advocates, civil legal rights companies across U.S.

WASHINGTON, D.C. – One day after the workplace associated with Comptroller for the Currency (OCC) rescinded its 2013 guidance to control predatory bank payday loans, significantly more than 100 faith leaders, consumer advocates, and civil liberties companies from in the united states answered by urging banking institutions to commit never to enter, or reenter, this http://https://paydayloanslouisiana.org/ financial obligation trap market.

The 100+ teams sent the OCC a duplicate of a page urging banking institutions to pledge that they’ll perhaps perhaps not begin making loans that are payday. Continue reading “OCC Opens Door For Abusive Bank Payday Lending”