Brown assails payday lending plan

Columbus Dispatch

WASHINGTON — Sen. Sherrod Brown assailed a Trump administration proposal to scrap regulations aimed at protecting consumers against payday lenders, charging the GOP plan would undermine Ohio’s efforts to protect working people from these predators,”

The proposal Tuesday would rescind a rule issued last year by the Consumer Financial Protection Bureau’s director at the time, Richard Cordray, who now the Democratic gubernatorial nominee in Ohio. Those rules would have required payday lenders to determine whether borrowers could pay back a high-interest, short-term loan before granting one.

To read more, click the link below. 

Brown assails payday lending plan  »