On Wednesday, July 24, the Senate’s Special Committee on Aging will hold a hearing entitled “Payday Loans: Short-term Solution or Long-term Problem?”  Senator Elizabeth Warren is a Committee member. 

There will be two panels of witnesses.  The members of the first witness panel are: 

  • David Silberman, Associate Director, Research, Markets, and Regulations, CFPB
  • Mark Pearce, Director Division of Depositor and Consumer Protection, FDIC
  • Eric Wright, Staff Attorney, Maine Bureau of Consumer Credit Protection 

The witnesses on the second panel will be: 

  • Annette Smith, Deposit Advance Consumer/Social Security Beneficiary
  • Rebecca Borne, Senior Policy Counsel, Center for Responsible Lending
  • Dennis Shaul, CEO, Community Financial Services Association of America
  • Richard Hunt, President and CEO, Consumer Bankers Association