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CFPB Has Spoken: Payday Lending Regs Drop

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The rules also make an exemption for community banks, credit unions and any other lenders that have not made such loans a big part of their business. Notably, we have no intention of disrupting lending by community banks and credit unions,” Cordray noted. And there are a few avenues. The moral for the story.

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The Final Payday Lending Rule Drops (Now What)

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The rules also make an exemption for community banks, credit unions and any other lenders that have not made such loans a big part of their business. Notably, we have no intention of disrupting lending by community banks and credit unions,” Cordray noted. And there are a few avenues. The moral for the story.

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Why The Final Payday Lending Rules Are Far From The Last Word

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“The final rule published today will devastate an industry that serves nearly 30 million American customers each year,” noted Edward D’Alessio, executive director of the Financial Service Centers of America. million comments submitted. Banks need clear guidelines from a host of players.

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