Democrats attack Trump’s CFPB director for reopening payday lending rule

Published March 12, 2019 4:59pm ET



Senate Democrats on Tuesday attacked Consumer Financial Protection Bureau Director Kathy Kraninger for her decision to reopen a rule on payday lending and accused her of doing a favor for an industry they have criticized for years.

“You are opening the door to bad actors,” said Sen. Chris Van Hollen, D-Md, during a Senate Banking Committee hearing. “You’re just going to give a big payday to payday lenders.”

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