I wanted to share with you the impact of the many organizations, including so many of you who heeded the call in New York, had in the effort to urge the Consumer Financial Protection Board to take a stronger stand against abusive lending.
I know many of you joined the sign on letter and/or sent comments of your own to make sure that the strong usury protections we have for consumers in NYS were not diluted.
It is so encouraging to see the strength in numbers. This is the point of becoming a coalition and working together for CDFIS in New York. Hopefully, this information will be helpful to us in the event that we once again have to push back efforts by check cashers to become small business lenders in the next legislative session.
Keep up the good work!
Kim Jacobs, Public Policy Chair
NYS CDFI Coalition