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Congress Must Heel Rogue Financial Watchdog

by Jeremy Webster | Oct 23, 2017 | Mercatus Center Publications

The Consumer Financial Protection Bureau (CFPB) released a new rule focusing on alleged “debt traps” caused by payday loans. It is hard to know exactly what is in this 1,590-page rule, but it includes a “Full Payment Test” requiring lenders to “determine whether the...

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