Rep. Cummings, House Democrats Call on Regulators to Prohibit Banks from Payday Lending

FOR IMMEDIATE RELEASE

Washington, DC (Apr. 23, 2013) – Today, Rep. Elijah E. Cummings (D-MD), as the top Democrat on the House Committee on Oversight and Government Reform, joined Reps. John Conyers, Jr. (D-MI) and Suzanne Bonamici (D-OR) in sending a letter to Federal Reserve Chairman Ben Bernanke, Comptroller of the Currency Thomas Curry, and Federal Deposit Insurance Corporation Chairman Martin Gruenberg urging them to take immediate joint regulatory action to prohibit banks from trapping customers in high-cost payday loans.

You may read the full letter on the Oversight Committee website by clicking here.