CSAJ Opposes Predatory Lending Proposed Rule

by Center for Survivor Agency and Justice | May 17, 2019

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On May 15, 2019, CSAJ filed federal comments opposing the Consumer Financial Protection Bureau's (CFPB) proposal to undo protections related to predatory lending that it adopted in 2017. The core principle of CFPB’s 2017 rule required lenders to ensure that a loan is affordable via an ability-to-repay standard so that a survivor would not have to re-borrow high interest loans or default on other expenses. CFPB is now proposing to undo those protections.