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Payday loan rule faces another challenge
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Case Law, Consumer Protection
Thursday, December 17, 2020
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Another lawsuit has been filed concerning the Consumer Financial Protection Bureau’s (CFPB) payday loan rule.
The complaint challenges the 2020 repeal of the underwriting provision of the rule and alleges the CFPB relied on “arbitrarily truncated analysis” and executed the repeal without observance of the rulemaking procedure required by the Administrative Procedures Act.
To learn more about the plaintiff’s argument, read on.
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