Righting a Flawed Payday Loans Rule

Righting a Flawed Payday Loans Rule

Recently the Consumer Financial Protection Bureau (CFPB) proposed a to reexamine the role of payday lenders, which are consistently cast as the villains of the financial industry. Such a depiction makes it easy to forget that these lenders are helping millions of Americans solve very real financial problems each year.

The demand for small-dollar loans won't disappear even if we close off the legal avenues to access them. That's why CFPB's new proposal is a clear win for consumers, as well as for evidence-based policy.

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