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Lawmakers to CFPB: Have payday lending forum before rulemaking
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Banking, Consumer Protection, Legislation, Nonbank Financial
Tuesday, April 12, 2016
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House Reps. Randy Neugebauer (R-Texas) and Mick Mulvaney (R-S.C.) highlighted their continued concern about the Consumer Financial Protection Bureau’s (CFPB) stance on regulating short-term, small-dollar credit products (which include payday loans), requesting that the CFPB convene a forum or roundtable composed of state and tribal officials before introducing any rulemakings. Read on for more details.
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