Senator Merkley Leads Senators in Pushing CFPB to Crack Down on Predatory Payday Loans

WASHINGTON–(ENEWSPF)–May 15, 2014.  In a letter sent to the Director of the Consumer Financial Protection Bureau (CFPB) yestrday, six Senators – Oregon’s Senator Jeff Merkley, along with Sen. Dick Durbin (D-IL), Sen. Tom Harkin (D-IA), Sen. Tom Udall (D-NM), Sen. Richard Blumenthal (D-CT), and Sen. Elizabeth Warren (D-MA) – pushed the bureau to take new action to protect consumers from predatory storefront and online payday loans. The letter arrives as the CFPB prepares rules for…