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Warren, Waters press CFPB acting director Mulvaney on ties to payday lending industry

( January 31, 2018, 15:47 GMT | Official Statement) -- MLex Summary: US Senator Elizabeth Warren and Representative Maxine Waters are pressing US Consumer Financial Protection Bureau acting director Mick Mulvaney on his "close ties" to the payday lending industry following decisions to halt the agency's payday lending rule and withdraw a lawsuit and an investigation into several payday lenders. In a letter to Mulvaney and CFPB deputy director Leandra English, the members expressed concern that the actions may be connected to the nearly $63,000 Mulvaney has received in past campaign contributions from the industry and say that he has yet to answer Warren's November inquiry about his ethics arrangement and recusals. The payday lending rule, issued under former CFPB director Richard Cordray, requires small dollar lenders to ensure consumers can afford to repay their loans.Statement follows....

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