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CFPB Has Spoken: Payday Lending Regs Drop

PYMNTS

“Today, I approved rescission of the OCC’s guidance regarding deposit advance products, effective immediately,” acting Comptroller of the Currency Keith Noreika said in a press release. The CFPB’s payday rule, he added, “necessitates revisiting the OCC guidance.”. So Now What? That wasn’t industry representative, by the way.

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The Final Payday Lending Rule Drops (Now What)

PYMNTS

“Today, I approved rescission of the OCC’s guidance regarding deposit advance products, effective immediately,” acting Comptroller of the Currency Keith Noreika said in a press release. The CFPB’s payday rule, he added, “necessitates revisiting the OCC guidance.”. So Now What? That wasn’t industry representative, by the way.

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