Regulating Payday Advances: Why This Will Result In The CFPB’S Brief List

Regulating Payday Advances: Why This Will Result In The CFPB’S Brief List

The CFPB and Payday Lending

Because set out within the prior part, the CFPB can ban outright any product which is either unfair or abusive. The CFPB can regulate all products also which have the potential become abusive or unjust. Payday advances perhaps fit both definitions. Once again, a training or product is unjust if it’s more likely to cause injury that is substantial people that is not reasonably avoided, whenever this substantial damage just isn’t outweighed by countervailing advantageous assets to consumers or even competition. Continue reading “Regulating Payday Advances: Why This Will Result In The CFPB’S Brief List”