Financial watchdog to gut most of its payday lending rules
The nation’s federal financial watchdog said Wednesday that it plans to abolish most of its critical consumer protections governing payday lenders.
Trump likely to change watchdog agency as Cordray leaves
Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, plans to leave the agency by the end of the month, giving President Donald Trump a chance to appoint a replacement likely to be friendlier to the financial industry.
Regulators propose huge overhaul of debt collection industry
The Consumer Financial Protection Bureau proposed a massive overhaul of the multibillion dollar debt-collection industry on Thursday, which would restrict collectors from calling numerous times a day, require them to have more documentation on what’s owed, and give people more ability to dispute their bills.