CFPB, Federal Agencies, State Agencies, and Attorneys General
Earlier in the day this week, with a party-line 34-26 vote, the House Financial solutions Committee passed H.R. 4861, a bill seemingly designed to relieve limitations on short-term, small-dollar loans created by depository organizations. The bill is component regarding the efforts of House Republicans to offer greater relief that is regulatory banks than could be supplied by S.
OCC responds to CFPB’s last pay day loan guideline by rescinding its deposit advance item gu
Hours following the CFPB circulated its final payday/auto installment that is title/high-rate guideline on October 5, 2017, the OCC rescinded its gu …
CFPB problems proposed payday/auto title/high-rate installment loan guideline
Needlessly to say, the CFPB issued its payday that is proposed loan, in a launch operating 1,334 pages. The CFPB additionally issued a known reality sheet summarizing the proposition. On June 15, 2016, from 12 p.m. to 1 p.m. ET, we are going to hold a webinar in the proposition: The CFPB’s Proposed Payday/Auto Title/High-Rate Installment Loan Rule: Can …
On March 26, the CFPB held a public hearing on payday and automobile title lending, the exact same time it circulated proposed laws for short-term small-dollar loans. Virginia Attorney General, Mark Herring offered starting remarks, during that he asserted that Virginia is regarded as the lending that is“predatory associated with East Coast,” suggesting that payday …
CFPB shows its hand on payday (and name and longer-term high-rate) lending
The CFPB has relocated one step nearer to issuing loan that is payday by releasing a news release, factsheet and outline associated with proposals it really is cons …
CFPB verifies plans for automobile finance bigger participant guideline in rulemaking agenda
The CFPB formally confirmed so it intends to propose a guideline to determine “larger individuals of an industry for auto financing. into the latest semi-annual up-date of the rulemaking agenda” The formal verification follows statements produced by Steven missouri payday loans Antonakes at a Consumer Bankers Association meeting in April 2014 that the CFPB’s next bigger participant rule …
CFPB to put on March 25 loan field hearing that is payday
The CFPB has established so it will be keeping a field hearing on pay day loans on March 25, 2014 in Nashville, Tennessee. The function will feature remarks by Director Cordray and testimony from customer teams, industry people, as well as the public that is general.
The CFPB’s rulemaking agenda given at the conclusion of final 12 months included “prerule tasks” …
OCC and FDIC continue on threat to kill deposit advance loans
We discovered much to criticize as soon as the CFPB issued its White Paper this previous April on payday and deposit advance loans. Nonetheless, we stay hopeful that the CFPB can make good on its dedication that any rule-making on these issues is supposed to be evidence-based.
Regrettably, the OCC and FDIC have never taken that approach. Alternatively, the …
CFPB reports payday and deposit advance loan findings at Senate pay day loan hearing
David Silberman, the CFPB’s Associate Director of Research, Markets and Regulations, made the CFPB’s April 2013 white paper on payday and deposit advance loans the main focus of their testimony during the hearing held on July 24 by the Senate’s Special Committee on Aging entitled “Payday Loans: Short-term Solution or long-lasting Problem?”
Even as we formerly reported …
Elizabeth Warren and Bill Nelson help OCC and FDIC on deposit improvements
A pal delivered to my attention a two-page remark page from Senators Elizabeth Warren and Bill Nelson, commenting regarding the OCC’s proposed deposit advance guidance, the main topic of a blog that is prior. For the page co-authored by the single person most in charge of the creation of the CFPB, this really is an extraordinary.