New Regulations to Oversee Payday Lending

"In the aftermath of the subprime mortgage collapse, a new agency emerges with the initial goal of overseeing nearly all aspects of consumer finance in order to regulate and hopefully prevent another economic crisis. This new Consumer Financial Protection Bureau (CFPB), which was originally proposed to be a stand-alone "agency" as opposed to the approved bureau which lacks the same enforcement authority, is still going to change the current landscape of consumer credit options in more ways than we can currently predict."