Payday industry officials and consumer advocates expect the Consumer Financial Protection Bureau to finalize sweeping new regulations on payday loans in the next few weeks.

Several payday industry lobbyists say they anticipate that Director Richard Cordray, an Obama appointee, will finalize the rule before leaving Washington to run for governor of Ohio, and will do so possibly before Labor Day.

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CFPB: Most payday loans are rolled over, and most monthly borrowers receive government benefits