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    Consumer Financial Protection Bureau appears to shed its aggressive reputation

    by James Rufus Koren, Los Angeles Times Feb 05, 2018 5 minutes

    The Consumer Financial Protection Bureau last year sued four lenders affiliated with a Northern California Native American tribe, alleging their costly loans violated interest rate caps in more than a dozen states.

    The enforcement action came amid a probe into yet another high-interest lender, World Acceptance, which the federal watchdog was considering accusing of consumer-protection law violations.

    Months later, the agency issued tough regulations aimed at reining in the practices of payday lenders, including limiting the number of costly short-term loans they can offer to cash-strapped Americans.

    But since the start of this year it's been a different story.

    The bureau asked a federal judge in Kansas to dismiss its case against the tribal-affiliated lenders, ended its investigation of World Acceptance and said it may reconsider its payday-lending rules.

    Welcome to the new CFPB under White House budget chief Mick Mulvaney, appointed by President Trump in November to temporarily lead

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