The CFPB found that payday loan borrowers rarely used extended payment plans for managing payday loans that they could not pay when due, in a report issued today.
Browsing: Payday lending
A federal appellate court last week extended the compliance date of the CFPB’s 2017 payday…
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products. Among other things, examiners flagged issues related to consumer reporting, debt collection and payday lending.
Violations of Regulation X–including the failure of some mortgage servicers to provide certain loss mitigation notices, providing incomplete notices or not providing notices within the time required–are among the examiner observations included in the Consumer Financial Protection Bureau latest “Supervisory Highlights” report.
The Consumer Financial Protection Bureau today announced updates to its rulemaking agenda for 2019. Significantly, the bureau said that it is considering initiating a rulemaking or issuing guidance to address the interplay between Regulation Z and requirements under the Electronic Signatures in Global and National Commerce Act.
The Consumer Financial Protection Bureau yesterday issued a final rule extending the compliance date for the mandatory underwriting provisions of its final rule governing short-term, small-dollar loans, from August 19, 2019, to November 19, 2020.
In a comment letter to the Consumer Financial Protection Bureau yesterday, ABA urged the bureau to revise its payday rule to exclude traditional consumer loans offered by banks, such as “bridge” loans, demand lines of credit and loans secured by securities.
Rep. David Scott (D-Ga.) last week introduced a bill aimed at promoting financial inclusion for American consumers.
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.
The Consumer Financial Protection Bureau today released a proposed rule that would sharply curtail short-term, small-dollar consumer loans.