The Consumer Financial Protection Bureau has created a database where borrowers can file complaints on payday loans.
Borrowers may now file complaints about excessive feeds or incorrect charges among other issues with payday lenders.
"Before the Consumer Bureau, consumers who had trouble with payday lending products had few places to turn," CFPB Director Richard Cordray said in the news release on Wednesday. "By accepting consumer complaints about payday loans, we will be giving people a greater voice in this market."
Borrowers can submit complaints on payday loans online, by phone or by mail.
For the full piece see "CFPB Adds Complaints Database on Payday Lenders" (may require subscription).