The U.S. Conference for Catholic Bishops (USCCB) called payday lending practices “predatory and abusive” on July 10, just days after a borrower protection regulation was removed.

Three days after the Consumer Financial Protection Bureau removed their protection that would ensure borrowers could repay their loan before being granted the loan, the USCCB expressed their disappointment, the release reported. 

Archbishop Paul S. Coakley, chairman of the USCCB, issued a statement concerning the removal of the protection measure. 

"The USCCB has long advocated for a strong Consumer Financial Protection Bureau rule to prevent payday loan abuses to protect poor and vulnerable people,” Coakley said in the release. “I am deeply disappointed by their final rule that strips away even the basic requirement that loans be made only when people can afford them, setting up workers and families to fail.”

Coakley said that payday lending, while marketed to desperate individuals as a quick source of money, is designed to make it nearly impossible for the loans to be paid back quickly. Additionally, the high interest rates make it especially difficult for those who are in a challenging position. 

“We encourage the U.S. Congress to take up measures to protect consumers and restrain predatory lending,” Coakley said, the release reported.