Congresswoman Terri A. Sewell to Introduce Director Richard Cordray and Participate in Payday Lending Hearing Hosted by the Consumer Financial Protection Bureau
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 firstname.lastname@example.org 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
Contact: Allison Abney; email@example.com; (202) 225-2665