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CFPB rollback of pay day loan protection attracts critique

CFPB rollback of pay day loan protection attracts critique

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Overview

Customer advocates decry lack of enforcement actions and reopening of cash advance regulation by customer watchdog agency led by Trump appointee.

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Borrower beware: Federal defenses from high-cost loans are increasingly being rolled right straight back as an element of a deregulation that is broad, prompting an outcry from customer advocates plus some policymakers.

“This is just a modern-day type of slavery,” U.S.