CFPA and Nonbanks: A Snapshot

Our friends at the National Consumer Law Center have put together a great two-page report on the dire need for federal regulation of non-bank lenders.  The report focuses on the problems created by the current lack of regulation of debt collectors and debt buyers, credit bureaus, payday lenders, nonbank auto lenders, and for-profit colleges directly making student loans.  Consumer advocates hope that these non-bank entities will be regulated by the proposed Consumer Financial Protection Agency.

Click here to see the full report (pdf).