AG Racine Leads 25-State Coalition Opposing Trump Administration Rollback Of Common-Sense Protections For Cash Advance Borrowers

AG Racine Leads 25-State Coalition Opposing Trump Administration Rollback Of Common-Sense Protections For Cash Advance Borrowers

lawyers General Oppose relocate to Rescind CFPB Rule built to Safeguard Consumers from Dangerous financial obligation Traps

WASHINGTON, D.C. – Attorney General Karl A. Racine today led a coalition of 25 states opposing the Trump administration’s efforts to eradicate guidelines consumers that are protecting abusive payday and automobile name loans. The states filed a formal remark letter aided by the Consumer Financial Protection Bureau (CFPB) opposing the Bureau’s proposed repeal of guidelines used in 2017 to guard customers from extortionate interest levels as well as other predatory techniques that trap consumers in rounds of debt while preserving usage of less-risky kinds of short-term credit. Continue reading “AG Racine Leads 25-State Coalition Opposing Trump Administration Rollback Of Common-Sense Protections For Cash Advance Borrowers”