Rep. Garcia Condemns CFPB Decision to Revoke Payday Lending Restrictions
July 08, 2020
July 08, 2020
HOUSTON, Texas, July 8 -- Rep. Sylvia Garcia, D-Texas, issued the following statement condemning the Consumer Financial Protection Bureau's decision to revoke payday lending restrictions:
This decision will gut a previous initiative aimed at protecting vulnerable consumers most at risk of falling prey to short-term, high-interest payday loans.
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"Today the agency that is supposed to protect consumers instead served them up on a platter to the preda . . .
This decision will gut a previous initiative aimed at protecting vulnerable consumers most at risk of falling prey to short-term, high-interest payday loans.
* * *
"Today the agency that is supposed to protect consumers instead served them up on a platter to the preda . . .