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Federal Gov't Has Rising Interest In Curbing Payday Loans

Tuesday, July 5, 2016
Mark Pattison | Catholic News Service
Keith Corbett

The proposed rule “must be strengthened, must be significantly strengthened. The CFPB has the right approach on the ability to repay. And it must close the loopholes. It would help millions of Americans if the CFPB closes the loopholes,” said Keith Corbett, executive vice president of the Center for Responsible Lending, during a June 14 conference call with journalists on payday lending issues.