Senate Dems Seek To Curb Payday Lending Abuses
Sens. Jeff Merkley, D-Ore.; Tom Udall, D-N.M.; and Dick Durbin, D-Ill., said the Stopping Abuse and Fraud in Electronic Lending Act would help ensure that third parties can’t gain control of consumers’ bank accounts through remotely created checks, which are checks from a consumer’s bank account created by a third party.
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