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CFPB report connects online payday loans, bank fees
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Banking, Consumer Protection, Corporate Governance, Nonbank Financial
Wednesday, April 20, 2016
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The Consumer Financial Protection Bureau (CFPB) released a report titled “Online Payday Loan Payments,” that included CFPB research findings on payday loans and certain installment loans, specifically looking at online lenders. The report includes data collected from 2011 and 2012 and used in an earlier study of the industry. The CFPB expects to release its proposed payday lending rule later this spring.
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