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    Consumer protection bureau cracks down on payday lenders

    by By Jim Puzzanghera, Los Angeles Times Oct 05, 2017 2 minutes

    WASHINGTON - The nation's top consumer financial watchdog on Thursday issued tough nationwide regulations on payday loans and other short-term loans, aiming to prevent lenders from taking advantage of cash-strapped Americans.

    The long-awaited rules from the Consumer Financial Protection Bureau would require lenders in most cases to assess whether a consumer can repay the loan.

    "The CFPB's new

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