Calif opposes CFPB efforts to delay protections from payday lenders

Source: Jeff Daniels, CNBC

California’s attorney general joined a coalition of two dozen other state attorneys general on Tuesday in opposing the Trump administration’s efforts to delay a consumer protection rule for payday lenders. The federal Consumer Financial Protection Bureau last month proposed repealing a 2017 “ability-to-pay” requirement that the industry opposed.

The attorneys general sent a letter this week to the CFPB’s director and warned “we will not hesitate to consider taking legal action if CFPB unlawfully proceeds.”

Read Full Article: Calif opposes CFPB efforts to delay protections from payday lenders

 

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