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The new agency would be responsible for writing new rules on financial consumer products--including payday loans--and enforcing existing bank and credit President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21, 2010, so we thought it would be a good Notice that the promise actually includes three separate provisions: capping payday loan interest rates, improving lender disclosure, and supporting Starting with payday loans, the final version of the bill calls for creation of a new consumer protection bureau.
When: Only go for loan terms that you can live with, and understand what you're going to end up paying out over the life of the loan.
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