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CFPB Payday Lending Rules 2.0 — What’s Next

PYMNTS

6), with the announcement that the Consumer Financial Protection Bureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. Some parts of the rules, however, did remain intact. There is also a 90-day period during which public comments on the proposed rule revisions are invited.

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CFPB To Overhaul Payday Lending Rule

PYMNTS

The rule, which was supposed to go into effect in August, was meant to federally regulate short-term loans geared toward low-income customers. The Consumer Financial Protection Bureau (CFPB) said it will now postpone the rule until Nov. She has an open mind and … wants to review the comments that come in.”.

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Morgan Lewis Principal Weighs In On Payday Loan Debate

PYMNTS

The Consumer Financial Protection Bureau ( CFPB ) said earlier in the month that it will look to overhaul a number of payday loan regulations that were put in place in 2017 and were slated to go into effect in August of this year.