Macquarie downgraded World Acceptance to Underperform due to increased risk from proposed and potential CFPB regulations. Yesterday, President Obama made comments on payday lending and highlighted issues with interest rates and fees lenders are charging, students taking out loans to repay previous loans, and the ease of loans despite ability of borrowers to pay back. Macquarie said the current proposal does not include World Acceptance but sees increased risk the CFPB will broaden rules for loan refinancing and affordability underwriting. The firm lo.wered its price target to $63 from $75