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March 27, 2015

Payday lenders face new federal regulations

  • The payday loan industry warns that overly strict regulations could cut into the flow of credit for the Americans who need it most.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — Payday lenders would face federal rules aimed at protecting low-income borrowers from being buried by fees and debts under proposals unveiled Thursday by the Consumer Financial Protection Bureau.

    President Barack Obama yesterday addressed the plans to oversee payday lenders and efforts by congressional Republicans to limit the bureau's authority.


     
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