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WSJ Editorial slams CFPB regulations as “political assault” on short-term credit providers

WSJ Editorial slams CFPB regulations as “political assault” on short-term credit providers

A recent editorial penned on June 2, 2016 by the Wall Street Journal is very critical of the CFPB’s efforts to regulate the short-term lending industry. “The Obama Administration has justified its regulatory assaults on for-profit education and coal mining with this nuanced legal reasoning: We don’t like you.  Now the Consumer Financial Protection Bureau […]

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Former top finance regulator to Feds: Don’t cut off short-term credit to consumers

Former top finance regulator to Feds: Don’t cut off short-term credit to consumers

A former top financial industry regulator is warning the Consumer Financial Protection Bureau (CFPB) that proposed new regulations could inadvertently destroy “a lifeline of credit for millions of responsible, low- and middle-income Americans.” In a column for American Banker, William M. Isaac, a former chairman of the Federal Deposit Insurance Corp. (FDIC), wrote that he […]

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Federal government report shows growing satisfaction with short-term loans

Federal government report shows growing satisfaction with short-term loans

Consumer satisfaction with short term loans continues to rise, according to a new federal report. The Consumer Financial Protection Bureau’s (CFPB) Monthly Complaint Report showed a 12 percent decrease in the number of short term loan complaints from consumers from this summer compared to the summer of 2014, according to The Hill, a Washington-based news […]

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