Desire to find out about the vicious pay day loan sharks preying on our communities?
Every year by trapping customers in a desperate cycle of debt from payday storefronts to car title lenders to online & installment lenders, predatory lenders take billions in fees. Just last year, NPA and our affiliates arranged and got the big banking institutions from the company of ripping down unique clients through bank account loans that are payday. Now our company is centered on clearing up the sleep of this industry to cease the worst associated with abuses via a future rule-making from the customer Financial Protection Bureau.
The authority to uniformly regulate small-dollar consumer loans: the payday, installment and related loan industries that strip billions in wealth from our communities and trap our families and neighbors in endless debt for the first time in history, Congress has given a federal agency. Developed by the Dodd-Frank Wall Street Accountability Act, the buyer Financial Protection Bureau (CFPB) was presented with the authority to manage non-bank banking institutions, including the dollar loan industry that is small. (more…)