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CFPB Has Spoken: Payday Lending Regs Drop

PYMNTS

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. That wasn’t industry representative, by the way.

CFPB 51
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The Final Payday Lending Rule Drops (Now What)

PYMNTS

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. That wasn’t industry representative, by the way.

Rules 40