2021年01月20日

Arkansas AG fulfills with U.S. customer Protection Bureau boss to speak about cash advance guidelines

Arkansas Attorney General Leslie Rutledge finally sat straight straight down with federal customer Financial Protection Bureau (CFPB) Director Richard Cordray to go over the federal government proposed new guidelines to safeguard customers from quick, small-dollar loans that are payday.

“I appreciated the chance to speak to Director Cordray and talk about a handful of important subjects of concern to Arkansans,” Rutledge stated in a declaration supplied Wednesday (June 8) to Talk company & Politics. “I reiterated my demand that Director Cordray hold a seminar of states to go over the proposed federal standards for lines of credit, installment loans, deposit advances, automobile-title secured personal loans and pay day loans.”

Rutledge continued: “I clarified that keeping this kind of meeting may be the right thing to do anytime a federal rule will probably supplant the reasonable policy alternatives of either Arkansas or any other states. In line with the conference, i will be positive that Director Cordray will speak to a band of Attorneys General quickly to discuss the proposed federal standards.”

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