Comment Period for CFPB’s Payday Loan Proposal Winding Down

In June, the Consumer Financial Protection Bureau (CFPB) released its much-anticipated proposal pertaining to the payday loan industry. The consumer federal watchdog agency announced new rules and regulations for payday loans at the federal level, which is the first time in the nation’s history. CFPB director Richard Cordray gave the general public 90 days to…

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