FFC Supports Payday Lending Regulation

March 22, 2013

Friends Fiduciary urges federal regulators to review bank payday lending practices.  Friends Fiduciary, with other socially responsible investors and concerned organizations, has signed onto a letter urging the Federal Reserve, FDIC, Consumer Financial Protection Bureau and the Comptroller of the Currency to regulate payday lending practices.  In the fall of 2012, FFC co-filed shareholder resolutions with Regions Financial and Wells Fargo on their payday lending practices and engaged in direct dialogues with these companies.  We have partnered with The Center for Responsible Lending in this work. To view the letter and signatories click here.