WASHINGTON (Reuters) – The U.S. consumer financial watchdog on Thursday released its final rule restricting payday lenders’ ability to profit from high-interest loans, but the Republican-led U.S. Congress is widely expected to try to kill the regulation aimed at keeping borrowers from falling into “debt traps.”

The Consumer Financial Protection Bureau rule would make lenders more responsible for checking borrowers’ ability to repay the cash advances with their future paychecks. The small short-term loans, which are not collateralized, are popular with low income earners and are frequently used

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