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Senators Introduce Bill to Crack Down on Online Pay Day Loans

Четверг, 05 Ноя 2020

Senators Introduce Bill to Crack Down on Online Pay Day Loans

Washington, DC — Today, Oregon’s Senator Jeff Merkley, Senator Tom Udall (D-NM), Senator Dick Durbin (D-IL) and Senator Richard Blumenthal (D-CT) introduced the Stopping Abuse and Fraud in Electronic (SECURE) Lending Act. The SECURE Lending Act would break straight straight down from the worst methods of this online payday financing industry and present states more capacity to protect customers from predatory loans.

«We tossed the payday lenders, who victimize families if title loans Tennessee they’re at their many vulnerable, away from Oregon back 2007,» stated Merkley. «Technology has brought many of these frauds online, and it is time for you break straight straight straight down. Families deserve a shake that is fair they truly are seeking to borrow funds, perhaps perhaps not predatory loans that trap them in a vortex of debt.»

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