Payday lending

Consumer Financial Protection Bureau Director Richard Cordray said his possible political ambitions did not affect the small-dollar rule, while declining to spell out if he was running for office.

Following short-term disruptions from Harvey, Texas bankers expect a long-term lift to the local economy; Buffett’s company officially becomes the bank’s largest shareholder.

The Consumer Financial Protection Bureau’s likely decision to pare back its final rule on small-dollar lending may help guard it against a congressional rollback and pave the way for bankers to return to the space.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, wrote a letter to CFPB Director Richard Cordray calling on him to clarify whether he is running for political office.

It is reasonable to rethink the role of state usury laws in national credit markets, but there should not be any erosion of consumer protections.

Republicans are already accusing CFPB Director Richard Cordray of misusing his job as a fundraising platform while many agency allies want him to stay.

The Trump administration says it has put a stop to Operation Choke Point, a controversial initiative aimed at discouraging financial institutions from servicing high-risk businesses.

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules.

With the environment in Washington favoring deregulation, banks are pushing regulators to let them back into the payday lending game. They should know better.

Financial regulation is too complex and needs to be retooled to improve access to credit, President Trump’s nominees to two top banking regulators told Capitol Hill on Thursday.