The Trump administration continues to gut the agency created with the purpose that is specific of customers.
This week, the customer Financial Protection Bureau proposed pulling right straight back on rules for payday loans, car-title loans and small-dollar types of credit. The CFPB issued a rule that would require lenders to make sure borrowers have the means to repay their loans under the Obama administration. The guideline had been set to take effect Aug. 19.
The good news is, under a brand new regime intent on taking care of lenders first, the CFPB desires to water straight down a unique payday-lending protections. (more…)