Consumer Watchdog to Scale Back Payday Rules

WASHINGTON—Some companies selling high-interest personal loans could get a break from new oversight by the federal government when it completes a long-anticipated rule on payday lending in September.

The Consumer Financial Protection Bureau, still under the leadership of an Obama-appointed director, is expected to scale back its new rule on small-dollar lending as it rushes to complete the regulation before a Trump appointee takes over its leadership, industry lobbyists and consumer groups say. CFPB Director Richard…

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