Montana lawmakers support the VCFCA
January 30, 2020
Montanans save an estimated $37 million annually since we outlawed payday loan products and services in 2010.
The Consumer Financial Protection Bureau is currently looking to roll back a common-sense rule that would ensure that borrowers can repay their loans before they sign on the dotted line. Short of a statewide payday loan interest rate cap, as our state and several other states have implemented, the rule was supposed to help keep average everyday people out of the debt trap.
Luckily, some members of Congress are leading a bill that would protect consumers from the damages these loans...