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CFPB Proposed Rule on Payday & Car Title Lending
Thursday, August 18, 2016 – 3:00 PM EST / 12:00 PM PST

Free to NACBA Members

PRESENTERS:
Ms. Ellen Harnick, Senior Policy Counsel & Western States Director, CRL
Ms. Lisa Stifler, Deputy Director of State Policy, CRL

Payday lenders purposefully ensnare people in debt they can’t escape. Payday and car title lenders drain more than $8 billion in fees annually. They collect 75 percent of their fees from people stuck in more than 10 loans a year by charging 300 percent APR. It’s a debt trap. Payday loan borrowers are more likely to fall behind on other bills and to file for bankruptcy.

In June, the CFPB proposed new rules to address the payday car title lending debt trap. Learn from experts at the Center for Responsible Lending about the payday loan debt trap, the proposed regulations, and how you can take action to strengthen the proposed rule.

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