CFPB Helps Big Payday Loan Lenders – Hurts Consumers and Small Business

By | Apr 4, 2015

UH Law Center prof says tighter controls on high-interest ‘payday’ loans may do more harm than good

Study finds federal proposals may favor big lenders, meaning fewer options and higher costs for low-income borrowers. HOUSTON, April 2, 2015 /PRNewswire-USNewswire/ — The Consumer Financial Protection Bureau recently outlined rules it plans to propose that place tighter restrictions on high-interest , “payday” and auto-title loans. But the long-awaited rules might have unintended consequences that harm…

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