Van Hollen Presses CFPB’s Kraninger on Proposed Rollback of Payday Lending Consumer Protections

Van Hollen Presses CFPB’s Kraninger on Proposed Rollback of Payday Lending Consumer Protections

“You are starting the entranceway to bad actors – it is really crazy”

Today U.S. Senator Chris Van Hollen (D-MD) questioned Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger from the Bureau’s current proposition to move straight right back guidelines to safeguard customers from predatory payday financing techniques. Senator Van Hollen raised his concern s regarding abusive lending techniques that occur within the payday financing industry during the Senate Banking, Housing, and Urban Affairs Committee hearing. A transcript of these trade is below, and video clip associated with hearing can be obtained right here . Continue reading “Van Hollen Presses CFPB’s Kraninger on Proposed Rollback of Payday Lending Consumer Protections”