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JUN 13, 2014 - Washington Business Journal

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Consumer groups getting restless over delay of federal payday lending rules

As Ohio’s payday lenders come off a major judicial victory, already much attention has shifted to the question of how swiftly and harshly federal regulators will crack down on the industry. A day after the Ohio Supreme Court ruled that lenders can continue making the short-term, small-dollar loans, Consumer Financial Protection Bureau Director Richard Cordray was grilled in Louisiana by consumer advocates who are upset over their state legislature’s failure to stamp out predatory practices. “A…

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