Last week, the CFPB held a field hearing on payday lending issues. The purpose of the hearing was to release the CFPB’s latest report on payday lending and hold a forum to discuss the report's findings as well as payday lending generally.
This alert discusses the report as well as the field hearing.
CFPB Payday Report -
The report, "CFPB Data Point: Payday Lenders," was published by the Bureau's Office of Research and written by Kathleen Burke, Jonathan Lanning, Jesse Leary, and Jialan Wang. (The press release announcing the report is also available.) The data for the report was gathered from the Bureau's examination of storefront lenders.
Please see full article below for more information.
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