Congresswoman Terri Sewell

Representing the 7th District of Alabama
 

Congresswoman Terri A. Sewell to Introduce Director Richard Cordray and Participate in Payday Lending Hearing Hosted by the Consumer Financial Protection Bureau

Jan 18, 2012
Press Release

BIRMINGHAM, AL – On Thursday, January 19, 2012, Rep Terri A. Sewell (D-AL) will participate in a payday lending hearing in Birmingham, sponsored by the Consumer Financial Protection Bureau (CFPB).  At the hearing, she will introduce Director Richard Cordray who was recently appointed by President Obama to lead the bureau.  The hearing will include testimony from consumer groups, civil rights groups, industry representatives and members of the public.

"Given these challenging economic times, many of my constituents across the 7th Congressional District of Alabama and families across this country rely upon the payday loan industry to satisfy many of their every day needs for short term cash," said Rep. Sewell. "However, there are some bad actors within this industry that operate outside of the law.  These actions must quickly be addressed by the Consumer Financial Protection Bureau. Ultimately, this industry must do a better job of educating and providing more transparency about the products and services that they offer.  It is my hope that the CFPB will create and implement a balanced approach to its regulation of these non bank service providers while punishing the bad actors that only seek to take advantage of our consumers."

 This event is open to the public and requires an RSVP. To RSVP, email your full name to cfpb.events@cfpb.gov or call 202-435-7000.

What:      CFPB Field Hearing on Payday Lending

When:     Thursday, January 19, 2012

Time:      12:00 p.m.  

Where:   Birmingham-Jefferson Convention Complex
                East Ballroom A
                2100 Richard Arrington Jr. Blvd. North
                Birmingham, AL 35203

For More Information Contact:  (202) 225-2665

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Contact:   Allison Abney;  allison.abney@mail.house.gov;  (202) 225-2665