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News Release: Mulvaney Plan to Gut Payday Lending Rule Defies Common Sense
October 26, 2018 – 1:14 pm

The rule, which was years in the making, created vital protections for consumers of payday, car title, and some longer-term loans to ensure that predatory lenders don’t trap customers in unaffordable loans. Underlying the rule is the common-sense principle that lenders should consider whether borrowers have the ability to repay a loan before they risk their financial well-being.