Payday Lending And The New CFPB
PYMNTS
DECEMBER 5, 2017
As we noted when we first covered the final draft of the payday lending rule , Congress retains the power to keep the rule from ever making it into the books, so to speak, through the power of the Congressional Review Act. However, as recently as a few weeks ago, the use of the CRA to block the payday lending rule seemed somewhat unlikely.
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