February 2012
Pratt's Bank Law & Regulatory Report;2012, Vol. 18 Issue 2, p7
The article focuses on the payday lending market which the Consumer Financial Protection Bureau (CFPB) will be closely supervising. During a field hearing in Birmingham, Alabama last January 19, 2012, the CFPB issued a publication entitled "Short-Term, Small-Dollar Lending Procedures" which will guide examiners who will make sure payday lenders follow federal consumer financial laws. CFPD Director Richard Cordray says payday lending products should help consumers and not harm them.


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