And he said, we’ll see and that he was not happy about the

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“The CFPB’s new rule puts a stop to the payday debt traps that have plagued communities across the country,” CFPB Director Richard Cordray said in a statement. “Too often, borrowers who need quick cash end up trapped in loans they can’t afford. And the $40 billion industry has warned that theCFPB’s rulescould force some of the nation’sthousands of payday lenders out of business and push their borrowers into more expensive financial arrangements such as using pawnshops..

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