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CFPB To Overhaul Payday Lending Rule

PYMNTS

The Consumer Financial Protection Bureau (CFPB) said it will now postpone the rule until Nov. The CFPB said it was worried the underwriting requirements could hinder customers’ access to credit, and competition as well.

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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. This may be an election issue, given that the proposal pushes the date off to Nov.