Spencer Bachus: “Without question, this gives the CFPB Director power that far exceeds that of any other financial regulator.”

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

Those left on the short end can often be the people who have the greatest difficulty in getting any credit at all.

In a perfect world, there will be no payday lenders.

In this economy, the last thing we need is to make it harder for businesses to operate and employ workers, and by that I mean legitimate businesses.