"CFPB has proposed a one-size-fits-all policy on payday loans that would undo the work of Florida and other states to set a strong balance of consumer protection and access to short-term credit. This will force consumers to turn to more expensive alternatives or unlicensed lenders, as our entire delegation noted in our letter to CFPB Director Cordray in April of this year," Mr. Ross said in a statement to The Times.
"We have to justify our existence every day in the private sector — change to attitudes, trends. You have to adapt. Government doesn't adapt. Instead it just incrementally adds on," said Rep. Dennis A. Ross, who introduced last week — for the third time — his Zero Based Budget Act in the House of Representatives.