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From our friends at the WV Center on Budget & Policy:
The Consumer Financial Protection Bureau (CFPB) is rolling back a recently created rule that requires predatory payday lenders to make affordable loans. Without this rule, payday loan sharks can prey on vulnerable consumers with debt trap loans causing default on other bills, overdraft fees, and even bankruptcy. Even though payday lending is illegal in West Virginia, many people fall victim to predatory lending in our neighboring states or online. A strong rule is so important to protect people from falling into the debt trap.
Please take a moment and add your name to the voices calling for the CFBP to keep its strong payday lending rule! Send in your comments by May 15.