United States

Columbia professor’s murky ties could compromise CFPB rollout

Getting the straight story on payday loans might be even trickier than it looks. Since at least 2017, US regulators have relied on a single, “objective” academic study to shape restrictions on short-term, high-interest loans, which critics claim are prone to victimize cash-strapped borrowers. But the Ivy League professor behind that study — which scrutinized in particular the causes behind delinquency rates in various states — has enjoyed cozy ties to a payday-lending executive and advised other academics on how to sway policymakers, The Post has learned. Ronald Mann, who teaches at Columbia Law School, has done previously undisclosed work at the behest of Hilary Miller, the president of the Short-Term Loan Bar Association, a ...