Big news: The Consumer Finance Protection Bureau released yesterday their final rule with protections for borrowers of payday loans. After years of calling for reform, our efforts have won a great victory!
Here’s the deal:
Last year, you helped drive more than 450,000 comments in support of payday lending reform, shocking big-money interests who thought they could trample consumers’ rights without a fight. (Thanks again for that!)
Your support led the Consumer Bureau to create this new rule to hold predatory lenders accountable -- but now Congress has the chance to kill it before it can go into effect.
Now we’d like you to contact Congress to let them know that the Consumer Bureau’s new rule is a great step forward, and you hope that they will support it.
Loan shark lobbyists fought tooth-and-nail to keep this rule from being drafted in the first place, and now that it’s been finalized, they’ll fight even harder. Just last month, the House voted nearly along party lines on whether to allow the Consumer Bureau to even enforce existing law. Congress needs to hear from you.
We’ve come so far -- and we’re so close to having national protections for consumers against these predatory lenders who devastate millions of people every year.
Can we count on you to make your voice heard again?
In the coming weeks, we’ll keep you posted on any new developments.
And thanks for being part of this from the beginning,
On behalf of NDESPA,
Scott Fry
Consensus Council, Inc.
701.224.0588 ext 106
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