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Rep. Sanchez Discusses Influence of Pay Day Loans with Ca Community People

Rep. Sanchez Discusses Influence of Pay Day Loans with Ca Community People

CONSUMERS WILL SHARE TALES OF UTILIZING PAY DAY LOANS WHILE COMMUNITY MANAGEMENT DISCUSS CFPB’S brand brand NEW POSSIBILITY TO RESTRICT PREDATORY LENDING

Los Angeles, CA- September 22, 2015: Later today, Rep. Linda T. Sánchez (CA-38), neighborhood leaders, and pay day loan customers will discuss predatory payday advances at a circular table discussion. The function is cohosted by the Montebello Housing developing Corporation and Mexican American Opportunity Foundation, and certainly will consist of remarks by Representative Sánchez in addition to a customer sharing their tales along with her. Community leaders will talk about the Consumer that is federal Financial Bureau’s rule-making for payday, vehicle title, as well as other high-cost installment loans.

“Establishing the proposed CFPB guidelines on these abusive loans would get a way that is long stopping the monetary heartaches designed for an incredible number of Ca families whom have caught within the pay day loan debt trap.” feedback Rep.