In Birthday Message to CFPB, Georgia Watch and Rep. Hank Johnson demand Strong Action against Payday Lending Abuses

In Birthday Message to CFPB, Georgia Watch and Rep. Hank Johnson demand Strong Action against Payday Lending Abuses

July 21, 2015 – ATLANTA, GA – 5 years following the enactment associated with legislation that created it, the customer Financial Protection Bureau is taking care of guidelines to curb the abuses associated with the lending industry that is payday. A message of strong encouragement today as it takes up that momentous task Georgia Watch and Representative Hank Johnson (4th District) sent the Bureau.

“Payday loans create a long-lasting cycle of financial obligation and a number of other economic consequences for borrowers; fortunately, the customer Financial Protection Bureau has got the prospective to carry reform that is meaningful the abusive techniques of these loan providers,” describes Representative Johnson.