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Consumer Financial Protection Bureau appears to shed its aggressive reputation

By newadmin / Published on Monday, 05 Feb 2018 12:03 PM / No Comments / 7 views

In that case and others, the agency relied on what industry attorneys have described as a novel argument: that lenders broke federal consumer protection laws that forbid unfair, deceptive or abusive practices by collecting on loans that carried interest rates higher than state laws allow, in some cases as high as 950%. In other words, the argument goes, the bureau piggybacked on state laws to allege a violation of federal laws.

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