Two new reports from Clarity Services and Charles River Associates found that the CFPB’s proposed payday lending rules could cause a majority of lenders to close down. The rules would require non-bank payday lenders to refuse credit to those below a certain payment-to-income ratio. The Clarity Services report examined payday lending transactions and concluded that payday storefront businesses would lose more than 70 percent in volume. The Charles River Associates report found that the rule would reduce loan revenues of payday lenders by an average of 82 percent.