Payday lending

Across the hallway from Mark Zuckerberg’s second round on Capitol Hill today there was another hearing taking place. This one was not quite so well-attended. Mick Mulvaney was there to be questioned on his role as acting director of the Consumer Financial Protection Bureau. Democrats have been worried that Mulvaney is a little overly-friendly to […]

Last year, the Obama administration enacted new rules regarding payday lending. They haven’t yet come into effect. Now, the Consumer Financial Protection Board says it will reconsider the tighter regulation that would have required payday lenders to make sure the people they lend to can actually repay their loans. The rule was bitterly opposed by […]