The House Appropriations Committee has approved by a vote of 30-17 the FY17 Financial Services and General Government Appropriations bill.  The Committee also adopted a bipartisan amendment to the bill that would block the CFPB from finalizing or enforcing a rule regulating payday lending until the CFPB submits a detailed report on the consumer impact

Tomorrow, in conjunction with a field hearing on small dollar loans, the CFPB is expected to issue its proposed rule addressing single-payment payday and auto title loans, deposit advance products, and certain “high cost” installment and open-end loans.  On May 18, 2016, as its final step before issuing the proposal, the CFPB released a