Payday Predators Win in Court
Consumers Lose as 5th Circuit Delays Consumer Bureau Rule
Two groups representing the payday lending industry scored a major win last week as the 5th Circuit Court of Appeals granted a stay to a Consumer Financial Protection Bureau (CFPB) rule that would have provided critical consumer protections.
Law360 has more on this story and the impact on consumers:
In a one-paragraph order issued late Thursday, a three-judge panel said the CFPB’s rule on payday loan collection practices must remain…