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CFPB to reconsider payday lender regulation that protects consumers

Wednesday, January 17, 2018
Mark Huffman | Consumer Affairs
Rebecca Borné

Rebecca Borné, Senior Policy Counsel at the Center for Responsible Lending (CRL) blasted the move, saying payday loans with triple digit interest rates need stronger regulation.

"For more than five years, the Consumer Financial Protection Bureau studied the issue, welcomed public input, and crafted a rule to help stop the payday loan debt trap," Borné said in a statement to ConsumerAffairs.