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Payday Lenders Drum Up Customer Support to Ease Regulations

2019-05-15T03:25:00
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Country: United States of America

Written in: English; English


Copyright: Dow Jones & Company, Inc.
person:
political party: en:Progress (Faroe Islands)
ethnic group: en:Group (mathematics)

Allied Progress, a consumer group, says payday lenders have organized thousands of customers who have sent in duplicate comments supporting rollback of Obama-era rules.

Payday Lenders Drum Up Customer Support to Ease Regulations CFPB is flooded with comments, many using the same templates By Yuka.Hayashi@wsj.com Updated May 14, 2019 9:25 p.m. ET WASHINGTON—Payday lenders have been mobilizing their customers to push the federal government to ease Obama-era regulations of the industry, according to research by a consumer advocacy group that favors the rules. Since the Consumer Financial Protection Bureau began soliciting public comment on a proposed rule governing small-dollar, high-interest consumer loans, the lenders have organized thousands of customers who have sent in duplicated comments in support of the change, said Allied Progress, the consumer group. ...


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