Comment on Consumer protection bureau takes on payday lending

Consumer protection bureau takes on payday lending

President Obama with CFPB Director Richard Cordray The Consumer Financial Protection Bureau is doing its job again, this time targeting legal loan sharks, the payday loan industry with rules to rein in their most abusive practices. The rules would cover a wide section of the $46 billion payday loan market that serves the working poor, many of whom have no savings and little access to traditional bank loans.

 

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