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CFPB Kraninger grilled on payday, military loan

Lawmakers on Tuesday grilled Kathy Kraninger, director of the Consumer Financial Protection Bureau, over the agency’s decisions to overhaul the payday lending rule and stop screening financial firms for compliance with the law. military loans. In his first appearance before the Senate Banking Committee since being sworn in three months …

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Morgan Lewis Principal on the Payday Loan Debate

The Consumer Financial Protection Bureau (CFPB) said earlier in the month that it would seek to revise a number of payday lending regulations that were put in place in 2017 and were due to go into effect in August of this year. Among the regulations scheduled for review is one …

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Northam seeks to change driver’s privilege card legislation, ban strip searches of children; approves reform of preferential voting and payday loans | Virginia

The move was celebrated by the Virginia Poverty Law Center and other consumer protection groups, which argued that predatory payday loans and car titles target the poor and trap them in financially precarious situations. “We have been fighting for years to reform predatory lending, and it is a relief that …

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