Monthly Archives: March 2021

New rules to ban the “debt traps” of payday loans

The Consumer Financial Protection Bureau on Thursday proposed new regulations to protect consumers from abusive lending practices that the CFPB’s main regulator calls “debt traps.” Americans are “prepared for failure” by payday lenders and auto lenders, Richard Cordray, director of the Consumer Financial Protection Bureau, told NPR. Steve Helber / …

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