OCC Opens Door For Abusive Bank Payday Lending

OCC Opens Door For Abusive Bank Payday Lending

Agency decision to rescind bank payday guidance draws critique from significantly more than 100 faith leaders, customer advocates, civil liberties businesses across U.S.

WASHINGTON, D.C. – One day following the workplace for the Comptroller associated with the Currency (OCC) rescinded its 2013 guidance https://paydayloanslouisiana.org/ to suppress predatory bank payday loans, significantly more than 100 faith leaders, customer advocates, and civil legal rights businesses from around the world answered by urging banking institutions to commit to not enter, or reenter, this financial obligation trap market.

The 100+ teams delivered the OCC a duplicate of a page urging banking institutions to pledge that they can perhaps maybe perhaps not begin making pay day loans. Read more