News & Analysis as of

Ability-to-Repay Comment Period

Ballard Spahr LLP

CFPB publishes notice on plans to conduct research for developing payday loan disclosures

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The CFPB has published a notice in the Federal Register indicating that it has hired a contractor to conduct one-on-one consumer interviews “to evaluate and refine potential options for a Bureau-designed payday loan...more

Moore & Van Allen PLLC

CFPB’s ANPR Calls for the End of the GSE Patch

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Late last month the CFPB reignited debate when it issued an Advance Notice of Proposed Rulemaking (“ANPR”) stating its intention to allow the “GSE Patch” to expire in January 2021. The GSE Patch allows what would otherwise...more

Orrick - Finance 20/20

CFPB Releases Qualified Mortgage ANPR

The Consumer Financial Protection Bureau (CFPB) is soliciting comments on possible amendments to the Ability to Repay/Qualified Mortgage (ATR/QM) Rule. ...more

Ballard Spahr LLP

CFPB Seeks Comment on Replacing Temporary GSE Patch Under Ability to Repay Rule

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The CFPB recently issued an advance notice of proposed rulemaking (ANPR) requesting comments on how to revise the qualified mortgage (QM) provisions of the Regulation Z ability to repay rule in view of the impending...more

Ballard Spahr LLP

CFPB Seeks Comment on Proposed Rules Addressing "Unique Nature" of PACE Financing

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The Consumer Financial Protection Bureau (CFPB) has opened the public comment phase on its proposed rules on regulation of Property Assessed Clean Energy (PACE) loans for upfront costs of eligible energy improvements....more

Ballard Spahr LLP

CFPB corrects (and extends) comment deadline for payday loan RFI

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The CFPB is publishing a notice in tomorrow’s Federal Register to correct the comment deadline for its payday loan Request for Information (RFI). The corrected deadline will be November 7, 2016. The RFI seeks feedback...more

Ballard Spahr LLP

CFPB extends comment deadline for payday loan proposal

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The CFPB’s proposed payday loan rule and related Request for Information (RFI) were published in this past Friday’s Federal Register.  The RFI seeks feedback regarding consumer protection concerns pertaining to (1) loan...more

BCLP

The CFPB Proposes Ambitious Payday Lending Regulations

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On June 2, 2016, the CFPB released its long-awaited proposed regulations for payday loans, vehicle title and certain high-cost installment loans. Comments on the proposed rules must be received on or before September 14,...more

Ballard Spahr LLP

CFPB Issues Second Rule to Implement the HELP Act, Expanding Qualified Mortgage Coverage for Lenders in Rural and Underserved...

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As we have addressed, Congress passed the Helping Expand Lending Practices in Rural Communities Act of 2015 (HELP Act) on December 4, 2015, in efforts to expand the designation of additional areas as being "rural" under...more

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