Topic - Consumer Finance Protection Board

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  • A passer-by looks at the business hours of a check-cashing store in the Hell's Kitchen neighborhood of Manhattan in New York City. A bill in the House would exempt such outlets, as well as pawnshops and payday-lending places from oversight by a new federal consumer finance watchdog agency. (Associated Press)

    Bill would curb oversight of payday loans

    A group of bipartisan lawmakers are pushing a plan to exempt pawnshops, payday lenders, check-cashing stores and installment lenders from oversight by President Obama's new consumer finance watchdog agency, saying the oversight could restrict credit and economic opportunities for lower-income and inner-city customers.

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