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November 9, 2017 | Relevant News
Last month, the Consumer Financial Protection Bureau (CFPB) released its final rule on small-dollar loans. The CFPB heralded this rule as a victory for consumers that would protect them from unscrupulous practices. In reality, however, this rule will shutter thousands of small businesses across the country and force millions of small-dollar loan customers to seek out dangerous alternatives. In doing so, the CFPB is putting the small business community at risk.