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Texas Fair Lending Alliance worries about rollback of pay day loan guideline

Texas Fair Lending Alliance worries about rollback of pay day loan guideline

AUSTIN (Nexstar) — The Consumer Financial Protection Bureau (CFPB) is wanting to roll a rule back that would require payday and car name loan providers check a debtor’s capacity to repay the mortgage.

“To maybe maybe not glance at the cap ability associated with debtor to settle offers some concern,” Ann Baddour, director for the Fair Financial Services Project at Texas Appleseed, stated.