CONCERNS ON BOTH SIDES: Some payday lenders use direct debit "in ways that pose risks to consumers," CFPB Director Richard Cordray (left) says. Payday lenders are hoping the bureau's payday rules are more "rationally drawn" than regulators' strict limits on banks' small-dollar credits, says Dennis Shaul, the CEO of the Community Financial Services Association of America.

Cheat Sheet: What to Expect from CFPB on Payday Lending

The controversial industry will soon be regulated for the first time on a nationwide basis. Heres a guide to what's coming.

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