From AFR: Stop The Debt Trap - Payday Lending in the News.

For more recent press hits worth sharing, check out#StopTheDebtTrap News Stories! Highlight Federal judge rejects CFPB's effort to halt payday rule June 13, American Banker A federal court dealt a blow to efforts by the Consumer Financial Protection Bureau to slow down the agency's payday lending rule. U.S. District Judge Lee Yeakel on Tuesday denied the request by acting CFPB Director Mick Mulvaney that the court delay the payday rule's effective date, which is set for next year. More Coverage: CFPB Payday Rule Will Go Live Next Year, Judge Says | Bloomberg Texas Court Rules Against CFPB’s Payday Lending Act Delay | PYMNTS.com Tweet: "Mick Mulvaney and the payday lenders tried an end-run around the law and it was rightly rejected," said Will Corbett, litigation counsel @CRLONLINE. "Today’s ruling is a win for consumers." #ProtectConsumers #StopTheDebtTrap http://bit.ly/2K6AWX4   Other News    Legal Aid official describes firing of advisers to federal consumer board June 17, The Florida Times Union Over 60 members of the Consumer Financial Protection Bureau’s three advisory boards comprised of volunteers from industry and consumer groups as wells as academics were all fired recently. White House Confirms That Mulvaney Deputy Is Pick to Lead Consumer Bureau June 16, The New York Times Mick Mulvaney, the White House budget director and acting head of the Consumer Financial Protection Bureau, has picked a deputy at the budget office, Kathy Kraninger, to succeed him at the consumer watchdog agency, a White House spokeswoman confirmed on Saturday. REPOST: WRAL.com More Coverage: Trump's consumer watchdog pick draws criticism from left and right | Reuters President Trump To Tap Mulvaney Associate To Lead Consumer Bureau | NPR Pa. lawmakers should reject this exploitative payday lending bill June 15, Harrisburg Patriot News It's the rare day that goes by in Harrisburg when state lawmakers don't praise the virtues of Pennsylvania's active-duty servicemen and women and its veterans. Yet a nakedly exploitative bill now before the House Commerce Committee, if approved, would open a loophole in state law big enough to drive an Abrams tank through, trapping those same heroes in a crushing cycle of debt. More Coverage: Reject legislation to aid payday lenders | The Morning Call Rep. Heffley accused of sneaking payday lending bill through committee | City & State CFPB’s Acting Director Is Acting Up: Mulvaney Joins Payday Industry to Fight Regulation June 13, The Pasadena Journal Mick Mulvaney, the illegally appointed Acting Director of the Consumer Financial Protection Bureau (CFPB) is a glaring example of one who appears to consistently relegate the financial concerns of America’s people in favor of businesses that harm instead of help consumers. His support of the payday and small-dollar lending industry is a prime example. In Our View: We’re Inviting Another Crisis June 12, The Columbian With the nation barely out from under the shadow of the Great Recession, the Trump administration and a complicit Congress continue to ignore the lessons of the past decade. Safeguards put in place to protect against another economic meltdown are being rolled back, while protections for consumers are being ignored. For more recent press hits worth sharing, check out#StopTheDebtTrap News Stories!

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From Washingington Examiner: Senate Democrats warn Mick Mulvaney against repealing payday loan rule

Senate Democrats warn Mick Mulvaney against repealing payday loan rule

by Joseph Lawler | March 27, 2018 05:15 PM

Forty-three Democrats wrote to acting Consumer Financial Protection Bureau director Mick Mulvaney on Tuesday. They told him not to undo the agency's payday loan rules, which he announced in January would be reconsidered.

(AP Photo/Manuel Balce Ceneta)

The vast majority of Senate Democrats are worried that acting Consumer Financial Protection Bureau director Mick Mulvaney is going to kill major new federal regulations on payday loans.

Forty-three Democrats wrote to Mulvaney Tuesday not to undo the agency's payday loan rules, which he announced in January would be reconsidered.

“The CFPB’s role in serving as a watchdog for American consumers while making our financial markets safe, fair, and transparent continues to be of critical importance," the Democrats wrote. "To this end, we urge you to end any efforts to undermine and repeal this critical consumer protection."

The rule was finalized in October under an Obama holdout director, Richard Cordray. After being appointed by President Trump, Mulvaney, who also is the director of the Office of Management and Budget, took the first step toward revising or undoing the rule by giving notice that it would be reconsidered. He also eased off some of the agency's investigations of payday lenders.

Of interest, several centrist Democrats did not sign the letter, including Missouri's Claire McCaskill, Montana's Jon Tester, North Dakota's Heidi Heitkamp, and West Virginia's Joe Manchin. All four senators are up for reelection in states that Trump won.

Republicans will be looking for Democrats to join them in a vote to disapprove the rule. Sen. Lindsey Graham, R-S.C., filed a resolution last week to cancel the rule through the Congressional Review Act. The vote would require a simple majority.