Rep. Ross: "Now there is a
Director Cordray: "What we're working on right now is potential regulations that you and I just discussed for the industry. That is not consistent with wiping out the industry, it's regulations to make sure that the industry is working in a pro-consumer fashion. That's our intent. I have recognized and acknowledged that demand for small dollar credit. People have that demand."
Rep. Ross: "And if they don't have it in a regulated fashion they're going to get it in a black market fashion, in a way that is more harmful to the consumer."
Director Cordray: "I agree with you on that."
Read this original document at: http://dennisross.house.gov/news/documentsingle.aspx?DocumentID=385051
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