CFPA legislation tweaked
September 22, 2009 | federal legislation | Comments (0)And I have no idea what this means for the payday lending industry. From the story:
Rep. Barney Frank (D-Mass.) on Tuesday circulated a memo to fellow Democrats that outlines strong support for a new Consumer Financial Protection Agency and includes a series of legislative changes designed to win over wary lawmakers.
Frank, chairman of the House Financial Services Committee, is a strong backer of President Barack Obama’s proposal for a new agency. It would have broad authority over products such as home loans and credit cards.
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