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Senator Durbin Joins More Than 30 Senators to Urge Consumer Agency to Issue ‘Strongest Possible Rules’ to Stop Predatory Payday Lending

WASHINGTON, D.C. –(ENEWSPF)–June 4, 2015.  As the Consumer Financial Protection Bureau (CFPB) considers new rules to rein in predatory practices in payday and similar types of lending, U.S. Senator Dick Durbin (D-IL) and more than 30 other Senators expressed their support today for the initial steps the agency has taken and urged the agency to issue the strongest possible rules to combat the “cascade of devastating financial consequences” that these high-priced loans often have on consumers.

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