New report shows negative effect of CFPB's contemplated payday loan proposals on credit availability

Barbara S. Mishkin A new report prepared by Charles River Associates for the Community Financial Services Association of America (CFSA) found that the CFPB’s contemplated proposals for payday (and other small-dollar, high-rate) loans would cut small payday lenders' revenues by 82 percent on average, potentially forcing these lenders to close many existing stores. The report also found that... More >...(read more)

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