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Published: March 2013

SAFE Lending protects consumers from risky practices

In a letter to Rep. Suzanne Bonamici, Consumer Action joins other advocates in supporting the SAFE Lending Act of 2013. This legislation seeks to protect consumers from abusive practices in payday lending.

The SAFE Lending Act of 2013 aims to protect consumers from harmful payday lending practices and requires lenders to comply with state laws if they provide more stringent protection than federal law. The SAFE Lending Act also seeks to improve consumer rights under the Electronic Fund Transfer Act, and protects consumers' personal data by prohibiting lenders from anonymously collecting it online.

Lead Organization

Consumer Federation of America (CFA)

Other Organizations

U.S. PIRG | National Consumer Law Center, on behalf of its low-income clients | Consumers Union | Consumer Action | Consumer Federation of America | Center for Responsible Lending

More Information

For more information on payday loans, please visit CFA's website.

Download PDF

SAFE Lending protects consumers from risky practices   (SAFE_Lending_endorse.pdf)

 

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