The Trump-powered CFPB rescinds payday lending restrictions

In Feb 2019, the federal consumer finance judge announced another breathtaking decision to relieve payday lenders. They revealed plans to roll back the Consumer Financial Protection Bureau’s 2017 payday lending rule drafted during Obama-era. The rule was disproportionately targeting the low-income borrowers who were offered high-interest loans. That rule was drafted under former CFPB Director […]