The 2008 financial crisis raised concerns surrounding the validity of federal protection in the consumer financial market and brought increased scrutiny to short term consumer lending programs-including payday loans. In response to the political pressure, President Obama signed the 2010 Dodd-Frank Act into law. Under this Act the Consumer Financial Protection Bureau was created and in 2017 it implemented federal regulations against non-bank payday lenders for the first time. I will discuss the Consumer Financial Protection Bureau’s economic justification for the regulation of payday loans and the implications of new standards of abuse in consumer protection and financial regulation.
Identifer | oai:union.ndltd.org:CLAREMONT/oai:scholarship.claremont.edu:scripps_theses-2199 |
Date | 01 January 2018 |
Creators | Quackenbush, Hannah |
Publisher | Scholarship @ Claremont |
Source Sets | Claremont Colleges |
Detected Language | English |
Type | text |
Format | application/pdf |
Source | Scripps Senior Theses |
Rights | 2018 Hannah J Quackenbush, default |
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