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Banking & Credit

Payday/High-cost Loans

Payday loans and title loans are made at very high interest rates without consideration of a borrowers’ ability to repay a loan. Secured by a post-dated check, direct access to a borrower’s bank account, or a car title, these loans frequently trap borrowers in a cycle of debt. CFA supports strong state and federal protections to prevent abusive practices and ensure that borrowers have every chance to access safe, sustainable, and affordable credit options.

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Subject Matter Experts

  • Rachel Gittleman

    Financial Services and Membership Outreach Manager

    rgittleman@consumerfed.org609-571-5953

  • Rachel Weintraub

    Legislative Director and General Counsel

    rweintraub@consumerfed.org202-939-1012

Most Recent Press Releases

  • Historic Legislation Passes in Illinois to Protect Consumers from Predatory Loans
  • New Research Shows that Most Black Americans Worry About Their Financial Futures and Also Lack a Personal Savings Account
  • CFPB’s Debt Collection Rule Misses Critical Opportunities to Protect Consumers

Most Recent Testimony and Comments

  • CFA Urges Massachusetts Finance Board to Protect Consumers by Lowering the Interest Rate Cap
  • CFA Urges Biden Transition Team and Congress to Support Urgent Consumer Protection Policies
  • Groups Oppose the CFPB's Plans to Engage in Payday Loan Disclosure Testing

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1620 I Street, NW - Suite 200  |  Washington, DC 20006  |  202-387-6121  |  cfa@consumerfed.org
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