Skip to main content

Search form

There's High Interest In Cracking Down On Payday Lending — And Pushback, Too

Monday, October 10, 2016
Robert Reed | Chicago Tribune
Michael Calhoun

On the surface, you'd expect consumer activists would be lining up with the CFPB. Not so. While it's getting applause for recommending some changes, there's also pushback from groups that want more aggressive regulations, including those seeking to lay the groundwork for capping interest rates on payday loans. "The CFPB recommendations are a step in the right direction, but they don't go far enough," said Mike Calhoun, president of the Center for Responsible Lending, based in Durham, N.C.