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CFPB overextending authority, former Frank advisor says
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Banking, Consumer Protection, Legislation
Friday, April 17, 2015
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Appearing before the House Financial Institutions and Consumer Credit Subcommittee on April 15, Dennis Shaul, CEO of Community Financial Services Association of America and former senior advisor to Rep. Barney Frank, D-Mass., argued that the Consumer Financial Protection Bureau was interpreting the Dodd-Frank Act in ways never intended by Congress, especially when it came to the bureau’s approach to payday lending.
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