One of the common elements in the CFPB’s growing regulatory interest over prepaid cards and payday lending is the challenge the bureau faces in balancing strong consumer protections from excessive fees or high interest rates, on the one hand, and maintaining consumer access to such products, on the other.During a hearing last week before the House Financial Services Committee, CFPB Director Richard Cordray felt political pressure to strike the perfect balance in both lending sectors. Ranking Member Maxine Waters, D-CA, came out strongly in favor of cracking down on lenders that service the payday market, otherwise referred to as small-dollar lending. “Do you think there is any way we can bring payday lending under control anytime soon?” she asked ...