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By Katie Buehler (Aug. 6, 2021 at 5:25 p.m. EDT) – Two trade groups representing payday lenders are pleading with a Texas federal judge to deny the Consumer Financial Protection Bureau’s request to lift a 2018 stay that violated its rules on lending from payday days and said that if it did, it would put their members in an even worse position than before the stay.

Community Financial Services Association of America Ltd. and the Consumer Service Alliance of Texas, in a Thursday response to the Bureau’s July request, argued that a “drive-by earnings decision” lifting the suspension would push its members to comply with the rules that haben was more than two years on hold….

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