What's Next: Dissecting New CFPB Payday Rule Changes!
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Join Prosperity Now, UnidosUS and the Asset Building Policy Network on Wednesday, February 27 from 2:30 to 3:30 pm ET for a webinar on recent changes to the Consumer Financial Protection Bureau's (CFPB) payday lending rule.
Every year, through triple-digit interest rates and exorbitant fees, payday lenders drain more than $8 billion from the pockets of hard-working families. For years, consumer advocates have fought to rein in this predatory industry and, with the release of the CFPB’s landmark 2017 payday lending regulations, advocates were one step closer to putting an end to its vicious cycle of debt.
But just a few months after a new director took charge of the agency, the CFPB is now proposing a number of changes that would severely weaken its own landmark 2017 rule, including repealing some of its most critical consumer protections, which would allow payday lenders to continue business as usual.
During this webinar, national policy experts and consumer advocates will discuss these changes and how they will affect vulnerable families, especially families of color.
- Marisabel Torres, UnidosUS
- Anju Chopra, Prosperity Now
- Emanuel Nieves, Prosperity Now
We’ll also share key data and messaging strategies to help you mobilize and connect you to national efforts to stop the debt trap.
- Ask the CFPB to #PutConsumersFirst! Use Prosperity Now's Payday Rule Toolkit and the #StopTheDebtTrap Toolkit to engage with the CFPB, Prosperity Now, and other consumer advocates on social media. You'll also find sample op-eds and other advocacy tools to help you advocate on behalf of consumers.
- Explore the 2019 Prosperity Now Scorecard for policy data and resources on predatory small-dollar lending protections.
- Contact your member of Congress to ask them to stand by consumers. We've made it easy to make a phone call or to send an email or letter through our one-stop Advocacy Center.