Customer Federation of America. Financial Solutions and Membership Outreach Manager

Subject Material Professionals

Rachel Gittleman

Many Press that is recent Releases

  • Advocates Applaud Senate Repeal of nationwide Banking Regulator’s Predatory Lending Rule; Urge the home to do something quickly
  • Brand New Bank Regulator Leadership Welcome
  • Bipartisan set of 25 State Attorneys General Urge Congress to Repeal OCC “True Lender” Rule
  • Most Recent Testimony and Reviews

  • CFA Urges Massachusetts Finance Board to safeguard Consumers by decreasing the Interest Rate Cap
  • CFA and Other Groups Oppose OCC’s Proposed Rule to stress Banking institutions to aid Predatory Lending
  • CFA along with other Groups Express Concerns to OCC About Oportun’s Application for a nationwide Bank Charter
  • Senators Inform FDIC to cease Payday Lenders Rent Bank that is letting Charters

    Washington, D.C. – Consumer Federation of America (CFA) applauded Senator Charles Schumer and five other Senators for contacting Donald Powell, Chairman of this Federal Deposit Insurance Corporation, to finish the abuse of federally insured state banking institutions to greatly help payday loan providers evade state usury and loan that is small.

    Payday advances are fast cash loans at triple-digit rates of interest centered on individual checks or electronic use of borrowers’ bank accounts due in complete from the borrowers’ next payday. Customers spend $6 billion a 12 months to borrow $40 billion in payday advances. Customers targeted by payday loan providers are low to middle class, armed forces, and minorities.

    “Federal bank regulators place a end with their banking institutions partnering with payday lenders as a result of unsafe and practices that are unsound” Jean Ann Fox, CFA manager of customer security, stated.

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