Pay day loans are very controversial.  On one hand, payday loans are reviled by many public officials, members of the clergy, policy makers, academics and researchers, analysts, journalists, advocates and others who have created a somewhat relentless attack on this financial service product over the last several years.

Payday loans and associated non-bank financial services are not popular products by the standard definition. Depending on which figures one uses, 3 percent to 5 percent of American consumers view payday lending or associated non-bank financial services like check cashing favorably.

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Comments on the CFPB’s Proposed Payday Lending Regulations

BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1041

[Docket No. CFPB-2016-0025]

RIN 3170–AA40

Payday, Vehicle Title, and Certain High-Cost Installment Loans

 

Submitted By Community Development Finance 3411 East 12th Street, #124 Oakland, CA 94601 510 479-1037

October 6, 2016

 

Community Development Finance (CDF) operates […]

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