CFPB, Federal Agencies, State Agencies, and Attorneys General
Previously this week, by way of a party-line 34-26 vote, the House Financial solutions Committee passed H.R. 4861, a bill apparently meant to relieve limitations on short-term, small-dollar loans created by depository organizations. The balance is a component of this efforts of House Republicans to give greater regulatory relief to banks than could be given by S.
OCC reacts to CFPB’s payday that is final guideline by rescinding its deposit advance item gu
Hours following the CFPB circulated its final payday/auto title/high-rate installment loan guideline on October 5, 2017, the OCC rescinded its gu …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 regarding the proposition: The CFPB’s Proposed Payday/Auto Title/High-Rate Installment Loan Rule: Can …
On March 26, the CFPB held a hearing that is public payday and automobile title lending, exactly the same time so it released proposed laws for short-term small-dollar loans. Virginia Attorney General, Mark Herring offered starting remarks, during which he asserted that Virginia is regarded as the lending that is“predatory regarding the 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 pay day loan guidelines by releasing a news release, factsheet and outline associated with the proposals it really is cons …
CFPB verifies plans for automobile finance bigger phone number for https://missouripaydayloans.org participant rule in rulemaking agenda
Into the latest semi-annual enhance of their rulemaking agenda, the CFPB formally confirmed it intends to propose a guideline to determine “larger individuals of an industry for auto lending.” The formal verification follows statements created by Steven Antonakes at a Consumer Bankers Association meeting in April 2014 that the CFPB’s next bigger participant rule …
CFPB to put on March 25 pay day loan field hearing
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 users, therefore the average man or woman.
The CFPB’s rulemaking agenda granted by the end of final 12 months included “prerule tasks” …
OCC and FDIC continue on risk to kill deposit advance loans
We discovered much to criticize if the CFPB issued its White Paper this previous April on payday and deposit advance loans. But, we remain hopeful that the CFPB will likely make good on its dedication that any rule-making on these things is supposed to be evidence-based.
Unfortuitously, the OCC and FDIC never have taken that approach. Rather, the …
CFPB reports deposit and payday advance loan findings at Senate cash advance 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?”
Once we formerly reported …
Elizabeth Warren and Bill Nelson help OCC and FDIC on deposit improvements
A buddy delivered to my attention a two-page remark page from Senators Elizabeth Warren and Bill Nelson, commenting in the OCC’s proposed deposit advance guidance, the topic of a previous web log. For the page co-authored by the single person most accountable for the development of the CFPB, this can be a remarkable.
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