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Jeb Hensarling

House lawmakers move to repeal new CFPB payday lending rules

House lawmakers move to repeal new CFPB payday lending rules

A bipartisan group of House lawmakers on Friday introduced legislation to repeal the first broad nationwide regulations on payday and other short-term loans, arguing the rules from the Consumer Financial Protection Bureau would effectively ban millions of Americans from accessing credit.

The move is the latest in a Republican-led fight against the agency, an Obama-era creation that was the center of controversy this week in a legal dispute over who should serve as acting director.

The House members hope to duplicate the successful effort this year to use the...

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