The CFPB is trying to gut a rule that protects consumers from predatory payday and auto lenders. In October 2017, the Consumer Financial Protection Bureau (CFPB) issued a final national rule that requires lenders to check a borrower’s ability to repay before lending money in the form of payday or car title loans. But now the new administration at the CFPB is looking to gut this crucial protection - called the “underwriting provision” - against predatory payday lenders. Without this protection, greedy lenders can force borrowers to take out multiple loans, some averaging over 350 percent interest, which they can’t fully pay back. This way consumers are trapped in debt far more costly than the original loan.

Fortunately we can do something about this. Use this portal to write the CFPB and tell them: Keep the payday rule intact for consumers!

To learn more: Read about the attempt to repeal the payday lending rule in CHN's Human Needs Report here. You can read more about the original 2017 payday lending rule by our friends at Stop the Debt Trap here. You can read about the attempt by the current administration to repeal the underwriting provision here.