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CFC Commentary
Washington Update
In late January, Rep. Barney Frank (D-MA), Chairman of the House Financial Services Committee, issued a memo to members of his committee regarding the proposed Consumer Financial Protection Agency and “Inaccuracies about CFPA Exemptions.” In his memo, Frank stated, “Importantly, the new agency will also have authority with respect to the now lightly or unregulated institutions such as payday lenders and check cashers firms which are especially important to lower income families.”
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Consumers In Ohio Will Be Harmed By Recent Legislation Effectively Banning Payday Loans
GAO study on banking fees
Federal Reserve Bank of New York Payday Holiday: How Households Fare After Payday Credit Bans (PDF)
Letter to the DOD regarding implementation of the “Talent Amendment” regulating small dollar, short term loans (PDF)
Letter to the FDIC regarding its draft guidelines on small dollar loans (PDF)
Coalition for financial choice advocates for basic rights in financial services for all consumers (PDF)
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