Year CFPB makes it official: Changes to payday rule coming in new

Year CFPB makes it official: Changes to payday rule coming in new

The customer Financial Protection Bureau said that it will propose changes in January to the underwriting provisions of the agency’s rules for payday lenders as well as to when those rules take effect friday.

Present acting Director Mick Mulvaney is pursuing two objectives: water along the forthcoming ability-to-pay needs for payday loan providers, and expand the conformity date — now August 2019 — to provide the agency and industry plenty of time to include the modifications. Continue reading “Year CFPB makes it official: Changes to payday rule coming in new”