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CFPB seeks to rollback rule restricting payday lenders

Ben Bradford Feb 7, 2019
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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. 

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