19
Jan
Merkley, Bonamici, Cummings Introduce SECURE Lending Act to guard Consumers from Predatory techniques in Payday Lending
WASHINGTON, D.C. – Today, Oregon’s Senator Jeff Merkley, along side Congresswoman Suzanne Bonamici (D-OR) and home Oversight Chairman Elijah Cummings (D-MD), introduced the Stopping Abuse and Fraud in Electronic (SECURE) Lending Act. The SECURE Lending Act would break straight straight down on a few of the worst abuses for the lending that is payday, especially in online payday lending, and protect customers from misleading and predatory methods that strip wide range from working families.
Under Trump Administration leadership, the buyer Financial Protection Bureau (CFPB) reversed program on nationwide guidelines slated to get into impact this present year instituting customer defenses from pay day loan predators.