The CFPB and the two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) have filed responses with the Texas federal court  regarding a compliance date for the 2017 Rule’s payment provisions.

The responses reply to the briefs filed by the parties following the court’s issuance of an order requesting additional briefing “concerning what would be the appropriate compliance date if the court were to deny Plaintiffs’ motion for summary judgment and grant Defendants’ motion for summary judgment.” … Continue Reading