CFPB To Reconsider Controversial Payday Lending Rule
Law360, New York (January 16, 2018, 3:39 PM EST) -- The Consumer Financial Protection Bureau on Tuesday said it plans to reopen a controversial rule that would bring federal regulations to the payday lending and auto-title lending industries, likely indicating that the rule will be significantly weakened.
Office of Management and Budget director Mick Mulvaney, right and shown in November, is a known opponent of the rule. He is serving as the acting director of the CFPB under an appointment by President Donald Trump, left, that is currently being contested at the D.C. Circuit. (AP) The CFPB under its former director, Richard Cordray, finalized a rule in October that would for...
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