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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 is looking to wipe out a financial service that millions of Americans need thanks to the lousy economy of the Obama years.”

The article goes on to criticize its close ties with the center for responsible lending and the lack of consideration of how this policy  will effects on millions of americans.

To read the full article click here.

 

 

 

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