CFPB Finds One-in-Five Car Title Loan Borrowers Have Actually Vehicle Seized for Failing Continually To Repay Debt

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a study discovering that one-in-five borrowers who sign up for a single-payment automobile name loan have actually their car seized by their lender for failing continually to repay their financial obligation. In line with the CFPB’s research, significantly more than four-in-five of those loans are renewed a single day they’ve been due because borrowers cannot manage to repay all of them with a payment that is single. Read the rest of this entry