Remarks by Richard Cordray during the Payday Loan Field Hearing in Birmingham, AL

Today thank you, Congresswoman Sewell and U.S. Attorney Vance for joining us. We have been in Birmingham to put up our very first industry hearing on payday lending.

Dr. Martin Luther King, Jr. when stated, “The dignity of this person will grow if the choices concerning their life have been in their hands that are own as he has got the way to look for self-improvement.”

In the customer Financial Protection Bureau, we profoundly have confidence in empowering individuals to enable them to make informed economic choices and simply simply take duty for anyone choices.

I will take a few minutes to discuss the payday lending market and our role in overseeing it before we open this hearing. Allow me to stress once again that this is certainly a industry hearing. We arrived right right here to pay attention, to understand, and also to gather home elevators the bottom that will assist notify our way of these problems. Continue reading Remarks by Richard Cordray during the Payday Loan Field Hearing in Birmingham, AL