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NNPA NEWSWIRE — “There is never a good time to enable predatory loans carrying 400% interest rates,” noted Mike Calhoun, President of the Center for Responsible Lending (CRL), “but this is the worst possible time. The pain caused by the CFPB gutting the payday rule will be felt most by those who can least afford it, including communities of color who are disproportionately targeted by payday lenders.”
