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On March 26, the CFPB announced that it is considering stronger consumer protections relating to payday loans, vehicle title loans, deposit advance products, and certain high-cost installment loans...
On March 26, the CFPB announced that it is
considering stronger consumer protections relating
to payday loans, vehicle title loans, deposit advance
products, and certain high-cost installment loans and open-end
loans. The proposals under consideration would
require lenders to take steps to make sure consumers can repay
their loans and would also restrict lenders from attempting to
collect payment from consumers' bank accounts in ways that tend
to rack up excessive fees.
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