We joined up with the CFPB in Richmond Thursday for a industry hearing for a proposed guideline to manage payday financing and comparable high-cost short-term loans. The CFPB’s draft guideline is comprehensive, addressing many different loans, however it contains prospective loopholes before it finalizes this important effort that we and other advocates will urge the bureau to close. Here is a quick weblog with some pictures from Richmond.
Writer: Ed Mierzwinski
Started on staff: 1977B.A., M.S., University of Connecticut
Ed oversees U.S. PIRG’s federal customer system, assisting to lead nationwide efforts to fully improve customer credit rating guidelines, identification theft defenses, item security laws and much more.