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Published Category: Speech

Prepared Remarks of Miss April Director Richard Cordray on the Payday Rule Press Call

Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans.