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There is still more to be done. The online lending market is changing rapidly, and new consumer protection tools are necessary to keep consumers safe. Allowing the continuation of abusive practices or the outright evasion of current law will lead to the erosion of over a decade of successful state efforts to protect consumers from the problems associated with high-cost lending. To eliminate the worst abuses in online lending, we need strong regulations both for the lenders and for the banks that abet them. And Washington needs to play a role. |
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2020-01-29 02:23:02 |
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