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2 Lender Trade Groups Sue CFPB Over Payday Lending Rule

By RJ Vogt (April 9, 2018, 9:59 PM EDT) -- Two payday lender trade groups sued the Consumer Financial Protection Bureau over its "draconian" final rule on short-term loans in Texas federal court on Monday, challenging the regulation requiring lenders to evaluate whether borrowers can repay loans because they said the agency overstepped constitutional safeguards....

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