January 18, 2018

Brown Statement on CFPB Decision to Reconsider Payday Lending Rule

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement opposing the Consumer Financial Protection Bureau’s (CFPB) decision to delay and reconsider the payday lending rule that protects consumers from predatory payday lenders:

“Rather than focus on keeping the government open, the Trump administration’s top budget expert is busy unraveling important consumer protections for payday borrowers. If he’s the head of both the CFPB and OMB, as this administration claims, he’s failing at both of his jobs.”