Category Archives: News

Faith Leaders and Veteran Advocates Urge Congress to Establish a National Loan Rate Cap by Passing the Veterans and Consumers Fair Credit Act

For Immediate Release: November 9, 2021 Press Contact: Jennifer P. Gore, Center for Public Justice Jennifer.portergore@cpjustice.org Faith Leaders and Veteran Advocates Urge Congress to Establish a National Loan Rate Cap by Passing the Veterans and Consumers Fair Credit Act The VCFCA Will Protect Veterans and Working Families from Predatory Lending WASHINGTON– On Monday members of…

Faith Leaders Applaud the U.S. Congress for Voting to Overturn OCC’s Harmful Rule Enabling Predatory Lending

FOR IMMEDIATE RELEASE June 29, 2021 Press Contact: Katie Thompson katie.thompson@cpjustice.org 908-472-8820 WASHINGTON, D.C. – Last week, joining the U.S. Senate, the U.S. House voted 218-208 to overturn the “True Lender” rule put forth by the Office of the Comptroller of the Currency (OCC). Rep. Glenn Grothman was the lone Republican vote to overturn the rule. The rule would…

Faith for Just Lending Asks Congress to Support the Veterans and Consumers Fair Credit Act

May 21, 2021 United States Senate Washington, DC 20515 Dear Senators, Each year, many households face financial crises. Over the last several decades, high-cost lending to those in need has increased significantly. Nearly 16,000 payday and car title loan stores operate nationwide. Taking advantage of loopholes and a weakening of traditional usury laws, many of…

PRESS RELEASE: Faith Leaders Applaud the U.S. Senate for Voting to Overturn OCC’s Harmful Rule Enabling Predatory Lending

FOR IMMEDIATE RELEASE May 12, 2021 Press Contact: Katie Thompson katie.thompson@cpjustice.org 908-472-8820 Faith Leaders Applaud the U.S. Senate for Voting to Overturn OCC’s Harmful Rule Enabling Predatory Lending WASHINGTON, D.C. – Last night, the U.S. Senate voted 52-47 to overturn a rule put forth by the Office of the Comptroller of the Currency (OCC) that overrides state usury laws,…

Faith Leaders Applaud Congress’ Decision to Challenge OCC’s ‘True Lender’ Rule

For Immediate Release March 30, 2021 Press Contact: Katie Thompson katie.thompson@cpjustice.org 908-472-8820 Faith Leaders Applaud Congress’ Decision to Challenge OCC’s ‘True Lender’ Rule National Faith Organizations Urge Congress to Prevent Loopholes that Harm Borrowers WASHINGTON — On March 25, Members in both chambers of Congress took steps to protect borrowers from predatory payday loans. Senator…

Faith Leaders Call on Congress to Protect Borrowers in COVID-19 Relief Legislation

The Honorable Mitch McConnell Majority Leader United States Senate S-230, The Capitol Washington, DC 20510 The Honorable Chuck Schumer Minority Leader United States Senate S-221, The Capitol Washington, DC 20510 The Honorable Nancy Pelosi Speaker United States House of Representatives H-232, The Capitol Washington, DC 20515 The Honorable Kevin McCarthy Minority Leader United States House…

Press Release: CFPB Weakens Consumer Protections as Nation Struggles Through COVID-19 Pandemic

For Immediate Release July 7, 2020 Press Contact: Katie Thompson katie.thompson@cpjustice.org 908-472-8820 CFPB Weakens Consumer Protections as Nation Struggles Through COVID-19 Pandemic Washington, DC – Today, the Consumer Financial Protection Bureau (CFPB) issued a final, weakened version of its “Payday, Vehicle Title, and Certain High-Cost Installment Loans” rule just months before it was scheduled to…

Faith Leaders Call for Borrower Protections During COVID-19 Crisis

CLICK HERE TO DOWNLOAD PDF VERSION OF THE LETTER Predatory Lending:  A Pandemic We Can’t Afford In the wake of the major economic disruption caused by the coronavirus pandemic, many Americans have lost their jobs, incomes, and social support. In response, Congress enacted an unprecedented program of relief. But government and civil society must also…

Faith Leaders Ask Congress to Protect Borrowers During COVID-19 Crisis

March 22, 2020 CLICK HERE TO DOWNLOAD PDF VERSION OF LETTER The Honorable Mitch McConnell Majority Leader Unites States Senate S-230, The Capitol Washington, DC 20510 The Honorable Chuck Schumer Minority Leader Unites States Senate S-221, The Capitol Washington, DC 20510 The Honorable Nancy Pelosi Speaker Unites States House of Representatives H-232, The Capitol Washington,…

Comments on Proposal to Rescind Ability-to-Repay Requirements

Dear Director Kraninger: The Faith for Just Lending coalition respectfully submits the following comment in response to the above-referenced Notice of Proposed Rulemaking. In 2017, the Consumer Financial Protection Bureau finalized new rules to curb predatory payday and car title lending practices and we supported the finalized rule. Faith for Just Lending represents millions of…