CFPB Finds One-in-Five Car Title Loan Borrowers Have Actually Vehicle Seized for Failing Woefully To Repay Financial Obligation

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a study discovering that one-in-five borrowers who sign up for a auto that is single-payment loan have actually their vehicle seized by their loan provider 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 your day these are generally due because borrowers cannot manage to repay all of them with a payment that is single. Above two-thirds of