cfsa

CFPB issues statement regarding plans to reconsider payday loan rule

By Ballard CFS Group on October 26, 2018

Posted in CFPB Rulemaking, Payday Lending, Regulatory and Enforcement

Earlier today, the Bureau of Consumer Financial Protection released a Public Statement Regarding Payday Rule Reconsideration and Delay of Compliance Date. Echoing rumors that have been circulating in the industry for several weeks (which we had agreed not to address in our blog), the Statement reads in full as follows:

The Bureau expects to issue proposed rules in January 2019 that will reconsider the Bureau’s rule regarding Payday, Vehicle Title, and Certain High-Cost Installment Loans and address the rule’s compliance date.… Continue Reading

CFSA FOIA request to CFPB yields positive comments from payday loan customers

By Barbara S. Mishkin on September 9, 2016

Posted in Payday Lending, Regulatory and Enforcement

The Consumer Financial Services Association of America (CFSA) issued a statement in which it reported that documents it received from the CFPB in response to a Freedom of Information (FOIA) request filed on December 31, 2015 “reveal for the first time more than 12,000 positive testimonials that payday loan customers submitted to the [CFPB] as part of the Bureau’s “Tell Your Story” initiative.”… Continue Reading