Broad Coalition Opposes Proposal to Delay CFPB Payday Rule

The Consumer Financial Protection Bureau (CFPB) has proposed delaying when payday lenders would need to comply with a 2017 rule on predatory payday lenders by 15 months. This would allow the industry to skip the common-sense requirement that it verify that a borrower has the ability to repay a loan – and to continue trapping Americans in vicious cycles of …