WASHINGTON, D.C. – On Thursday, January 19, 2012, the Consumer Financial Protection Bureau (CFPB) will convene the agency’s first field hearing in Birmingham, Ala., to discuss payday lending products. Alabama is a state with one of the highest number of payday lenders per capita in the country.

Last week, under the new leadership of Director Richard Cordray, the CFPB launched the nation’s first federal nonbank supervision program with the authority to oversee payday lenders of all sizes. This field hearing – which will include testimony from consumer and civil rights groups, industry representatives, and members of the public – will provide the CFPB with on-the-ground insight into the payday lending market.

WHO: Richard Cordray
Director, Consumer Financial Protection Bureau

WHEN: Thursday, January 19, 2012
12:00 p.m. CST/ 1:00 p.m. EST

WHERE: Birmingham Civil Rights Institute
520 16th Street North
Birmingham, AL 35203

Media Notes:
This event is open to the media and all members of the media must RSVP to attend by contacting Mallory McLean at mallory.mclean@cfpb.gov by 5:00 p.m. (ET) Wednesday, January 18, 2012.

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