On October 5, 2017, the Consumer Financial Protection Bureau (the “CFPB”) released its final rule targeting what it refers to as “payday debt traps” (the “Rule”). Among other things, the Rule will require lenders to make...more
On June 2, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) proposed a new rule under its authority to supervise and regulate certain payday, auto title, and other high-cost installment loans (the “Proposed...more