October 13, 2017 / 12:39 PM / 10 months ago

Q&A: Former CFPB lawyer sees uphill fight to implement payday rule

The U.S. Consumer Financial Protection Bureau has released tough new regulations for the payday lending industry that could reduce the number of the short-term loans used by millions of Americans for emergency cash.

But the rules will likely face challenges before they are implemented, said Christopher Peterson, a law professor at the University of Utah’s S.J. Quinney College of Law and a former senior counsel in the CFPB’s office of enforcement.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2zkO82o

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