House lawmakers move to repeal new CFPB payday lending rules

Source: Jim Puzzanghera, Los Angeles Times (Paid Registration)

A bipartisan group of House lawmakers on Friday introduced legislation to repeal the first broad nationwide regulations on payday and other short-term loans, arguing the rules from the Consumer Financial Protection Bureau would effectively ban millions of Americans from accessing credit.

Consumer advocates and most Democrats in Congress strongly back the rules. But the payday industry and most Republicans oppose the regulations.

Read Full Article: House lawmakers move to repeal new CFPB payday lending rules

 

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