Community Financial Services Association of America, the payday lending trade group, filed a lawsuit against the Consumer Financial Protection Bureau. The regulation would require payday lenders to verify borrowers can afford the loan before lending money. It also caps the number of times a person can take out a payday loan in a row. It has already faced opposition from House and Senate Republicans who have introduced their own bills to stop the rule from going forward. Meanwhile, President Donald Trump-appointed acting head of the CFPB Mick Mulvaney has said he is looking over the rule. Washington Post.