Consumer Financial Protection Bureau Considers Repealing Payday Loan Rule

The Heartland Institute cites former Policy Analyst Daniel Press on CFPB regulations.

The costs the payday loan rule imposes on consumers and the loan industry far outweigh any benefits, says Daniel Press, a policy analyst at the Competitive Enterprise Institute.

“The original payday lending rule was one of the most detrimental regulations ever issued by the CFPB,” Press said.

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