CFPB's Payday Lending Rule Faces Hazy Future

By Evan Weinberger (October 5, 2017, 9:30 PM EDT) -- The Consumer Financial Protection Bureau released a rule Thursday that for the first time would bring nationwide standards to the payday lending market, but whether the measure will ultimately take effect is unclear, experts say.

The CFPB's payday lending rule faces potential challenges on several fronts, including a possible rollback effort by the eventual successor of agency head Richard Cordray, pictured above, center, in 2015. (AP) The rule faces a potential vote to nullify it in Congress, litigation from an enraged industry and the potential for a new CFPB director appointed by President Donald Trump to roll it back when the...

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