Debt Trap Tracker
Consumer protections for payday and car-title loans, created by the previous leadership of the CFPB after years of research, were due to take effect on Aug. 19, 2019. Now, these latter-day loan sharks will trap more borrowers in vicious cycles of debt.
Since Director Kathy Kraninger has sided with the sharks and turned her back on consumers, American borrowers caught in this infamous debt trap have paid fees amounting to:
For more information on predatory payday lending, check out StopTheDebtTrap.org