8 Comments on “Call to Action: Submit Public Comment on Payday Loans Rule”

  1. Payday lending is a disgrace to the poor people that are already hurting from financial burdens and only complicates their situation while benefiting those who would take advantage of them. They need guidance and education to help them with a long term solution to their financial problems. This situation requires regulatory intervention.
    I urge you: do NOT rescind this rule!

  2. Please do not remove the requirement for pay day lenders to assure the ability of borrowers to repay the loan before making the loan. Poor,often desperate, people get caught in a vicious cycle of continuous loans because they cannot repay their loans in the allotted time, insuring the constant enrichment of the predatory loan agents.

  3. Payday and car title lenders prey on the poor and the elderly. There needs to be forced changes to the business preactices of payday and car title lenders.

  4. Protect the consumer. That is your job. Leave in place the requirement for loan companies to determine if the consumer has the resources to repay a loan. Is it really a short term loan or a trap for ongoing loans and profit for the company? Protect the consumer!

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