Commentary and Analysis

Comment: Will Congressional Republicans kill pro-consumer payday lending rule?
Author:Neil Roland and Neil Haggerty

In Brief

Republican lawmakers’ prospects for overturning a pro-consumer payday lending rule are cloudy, even though they blocked another pro-consumer federal rule on arbitration last week. The US Consumer Financial Protection Bureau’s rule to tighten controls on payday lenders who charge high interest for short-term loans has stirred opposition from an assortment of small businesses that are pushing Republican lawmakers to act. But these lenders don’t have the clout of large Wall Street and business groups that lobbied against the CFPB’s arbitration rule.

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