payday lending

Payday lenders argue that the CFPB's funding structure is unconstitutional because it's not funded by money appropriated by Congress. The argument threatens the existence of other agencies, too.

Banks closed a record number of branches last year as the pandemic pushed more customers to online and mobile banking.

The Trump administration is trying to force banks to make loans to gun-makers and to finance payday lenders. Critics call the move bizarre. It's opposed by watchdog groups and banks.

Some payday loans carry interest rates of 100% or more. The Military Lending Act limits rates on loans to service members. Now, a bipartisan bill aims to extend that protection to all Americans.

One of Kathy Kraninger's first moves as CFPB chief was to move to rescind a rule that would put restrictions on payday lending. Now she'll face questions from the House Financial Services Committee.