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We write to precise concern regarding the announcement that the customer Monetary Protection Bureau (CFPB) will start the entire process of reconsidering and fundamentally repealing the Bureau’s lately finalized Payday, Vehicle Title, and Certain Excessive-Price Installment Loans rule, also called the payday lending guideline. ” We regard this movement as well as the dismissal of ongoing enforcement actions in opposition to predatory loan providers as antithetical towards the CFPB’s objective.
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