We joined the CFPB in Richmond Thursday for a industry hearing on a proposed guideline to manage lending that is payday comparable high-cost short-term loans. The CFPB’s draft guideline is comprehensive, addressing a number of loans, however it contains possible loopholes that individuals along with other advocates will urge the bureau to shut before it finalizes this crucial work. Listed here is a blog that is short some pictures from Richmond.

Writer: Ed Mierzwinski

Started on staff: 1977B.A., M.S., University of Connecticut

Ed oversees U.S. PIRG’s federal customer system, assisting to lead national efforts to fully improve customer credit scoring laws and regulations, identification theft defenses, item security laws and much more. Ed is co-founder and continuing leader for the coalition, People in america For Financial Reform, which fought when it comes to Dodd-Frank Wall Street Reform and customer Protection Act of 2010, including as the centerpiece the buyer Financial Protection Bureau. He had been awarded the customer Federation of America’s Esther Peterson customer provider Award in 2006, Privacy Overseas’s Brandeis Award in 2003, and many yearly “Top Lobbyist” honors through the Hill along with other outlets. Ed lives in Virginia, and on weekends he enjoys biking with buddies regarding the numerous bicycle that is local.

We joined up with the CFPB in Richmond Thursday for the industry hearing on a proposed guideline to modify lending that is payday comparable high-cost short-term loans.

The CFPB’s draft guideline is comprehensive, addressing many different loans, nonetheless it contains possible loopholes we as well as other advocates will urge the bureau to shut before it finalizes this essential work. The CFPB will upload a video clip archive associated with the Richmond occasion right right here soon. [Read more…]