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 |
Page generated in 0.0021 seconds