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

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

Our company is in Birmingham to put on our field that is first hearing payday financing.

Dr. Martin Luther King, Jr. as soon as stated, “The dignity for the person will thrive if the decisions concerning their life have been in his very own fingers, as he has got the way to seek self-improvement.”

During the customer Financial Protection Bureau, we profoundly rely on empowering individuals to enable them to make informed economic choices and simply simply take duty for those of you decisions.

Before we start this hearing, i am going to simply take a couple of minutes to go over the payday financing market and our part in overseeing it. I would ike to stress once more that it is an industry hearing. We arrived right right here to concentrate, to master, and also to gather home elevators the bottom which will help notify our way of these problems. Our company is thinking difficult about these problems, and then we don’t have all of the answers exercised in the slightest.