CFPB seeks to rollback rule restricting payday lenders
A sign outside a "Speedy Cash" cash loans shop on Brixton High Street on Nov. 1, 2012 in London, England.
Dan Kitwood/Getty Images
The Trump administration is handing payday lenders a potential victory. The Consumer Financial Protection Bureau Wednesday proposed rolling back an Obama-era rule set to take effect in August. It would have curbed payday loans, which offer quick bursts of cash to consumers at high interest rates.
Stories You Might Like
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
