The Consumer Financial Protection Bureau which began supervising the payday loan industry in January 2012, is drafting rules that could provide moreprotections for consumers, reports In July, following a review of debt collection practices at ACE Cash Express, a payday loan company, the bureau said the company must pay $5 million in refunds and a $5 million penalty. The bureau said ACE used illegal debt collection tactics including harassment and threatening lawsuits or additional fees to pressure borrowers to pay off overdue balances by taking out new loans.