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With the change of administration in Washington, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) is widely expected to assume a posture of aggressive enforcement of consumer protection laws. One area that we anticipate will receive heightened scrutiny is payday lending, a form of lending that typically involves small, short-term loans at high interest rates. Under new leadership, the CFPB may seek to require that payday lenders assess a borrower’s ability to pay. And even absent such a requirement, the CFPB may pursue enforcement actions against lenders for lending that the CFPB considers “predatory” and/or “unfair,” and therefore putatively in violation of the Consumer Financial Protection Act of 2010 (“CFPA”).
neither of these two lived in florida. so there s a lot of confusion about why they didn t call law enforcement back then. this is an incredible story. thank you so much for telling it. my heart goes out to those women. they are brave warriors. they really are. kate, thanks again. kate snow does the toughest stories here. she really does. thanks, steph. next, a trump official is hurting the very people that she s tasked with protecting. the head of the consumer financial protection bureau wants to scrap a lending rule meant to guard the most vulnerable americans. payday loans can be so costly, some with an insane annual percentage rate pushing 400%. payday lending, this is predatory lending. it preys on the most vulnerable people. they re not going to payday lend so they can buy jewelry. they re doing it so they can pay their heating bill. please stick around. you re watching velshi &