Merkley, Bonamici, Cummings Introduce SECURE Lending Act to safeguard Consumers from Predatory Practices in Payday Lending
WASHINGTON, D.C. – Today, Oregon’s Senator Jeff Merkley, along side Congresswoman Suzanne Bonamici (D-OR) and home Oversight Chairman Elijah Cummings (D-MD), introduced the Stopping Abuse and Fraud in Electronic (SECURE) Lending Act. The SECURE Lending Act would break straight down on a number of the worst abuses for the payday financing industry, especially in online payday lending, and protect customers from misleading and predatory methods that strip wide range from working families.
Under Trump Management leadership, the customer Financial Protection Bureau
(CFPB) reversed course on national guidelines slated to get into impact this season consumer that is instituting from pay day loan predators.