For longer than ten years, civil legal rights businesses, work, clergy, and customer advocates have battled to finish triple-digit rates of interest on little buck loans. Whether it had been a high-cost installment, payday or car-title loan, the push is to free America’s working families and consumers of color from costs that may increase, and on occasion even triple the total amount of money lent.

Now, after many years of research, public hearings and advisory forums, on June 2 the customer Financial Protection Bureau (CFPB) announced a long-awaited proposed rule. Continue reading