CFPB poised to reinstate stance that is tough payday loan providers

CFPB poised to reinstate stance that is tough payday loan providers

The customer Financial Protection Bureau is offering its clearest signal yet that a 2020 regulation reducing criteria for payday lenders is in danger, despite efforts currently in movement because of the industry to implement the Trump management guideline.

Acting CFPB Director Dave Uejio — appointed by the Biden management to lead the agency after Kathy Kraninger’s resignation — offered their many powerful remarks up to now on the 2020 guideline, which eliminated underwriting demands for small-dollar lenders. Continue reading CFPB poised to reinstate stance that is tough payday loan providers