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Loan providers exploit bank laws to charge interest that is triple-digit

Loan providers exploit bank laws to charge interest that is triple-digit

When upon a right time in Washington, Congress enacted the Dodd-Frank Wall Street Reform Act which also created the customer Financial Protection Bureau (CFPB). The very first time, a federal agency ended up being charged to end up being the customers’ “financial cop regarding the beat.” In its very first four years, CFPB received 354,600 customer complaints that resulted in $3.8 billion in restitution.