Senators Introduce Bill to Crack Down on Payday Loans Online

Senators Introduce Bill to <a href=""></a> Crack Down on Payday Loans Online

Washington, DC – Today, Oregon’s Senator Jeff Merkley, Senator Tom Udall (D-NM), Senator Dick Durbin (D-IL) and Senator Richard Blumenthal (D-CT) introduced the Stopping Abuse and Fraud in Electronic (SECURE) Lending Act. The SECURE Lending Act would crack straight down from the worst methods for the online lending that is payday and provide states more capacity to protect customers from predatory loans.

“We threw the lenders that are payday who victimize families when they’re at their most vulnerable, away from Oregon back in 2007,” said Merkley. (više…)

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