What Will You Tell Them?
Back in March, I traveled to Washington, DC to represent you before staff of the Consumer Financial Protection Bureau (CFPB). I had a clear message: Tennessee families can’t afford the devastating fees and never-ending debt trap that comes with payday and car title loans.
Now, it’s your turn.
The CFPB has released it’s proposed rule on payday and car title lending and they are seeking comments.
The proposal is an important first step toward providing relief from the cycle of debt so many borrowers find themselves in after being preyed upon by payday predators.
What will you tell the CFPB about payday lending? Now is the time to share your story!
Now that there’s a proposed rule, we have an opportunity to weigh-in and claim a victory over the loan sharks — Here’s what you can do:
Take a moment and send a comment to the CFPB on their proposal. Tell them it’s important to include a strong ability to repay provision. Tell them your story of a payday lending encounter. Tell them that Tennessee families need a strong rule with clear enforcement in order to rein-in the loan sharks.
And remember, we count on YOU to help us win the fight against payday lending loan sharks in Tennessee. Your contribution of $5 or $10 today will help keep the Loan Shark Ledger coming and keep the fight against legalized loan sharking alive.
For more on how you can help in the fight against payday predators, follow @TNCitizenAction