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Federal regulators issue a new rule that removes a key provision crafted during the Obama administration. Lenders no longer have to check that borrowers can repay a loan.
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Low-income Americans who use government safety net programs could be affected by a number of proposed rules and actions in areas such as housing, food aid, overtime and immigration.
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One of Kathy Kraninger's first moves as CFPB chief was to move to rescind a rule that would put restrictions on payday lending. Now she'll face questions from the House Financial Services Committee.
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The industry is holding its annual conference this week at Trump National Doral Golf Club near Miami. Critics say a Trump appointee is helping the industry by moving to ease regulations.
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As a congressman, Mick Mulvaney accepted donations from payday lenders. Now he's in control of the Consumer Financial Protection Bureau, which has delayed implementing payday lending rules.
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Some experts say there are better, cheaper alternatives for getting small dollar loans than payday loans, which are often cash sources of last resort.