CFPB, Federal Agencies, State Agencies, and Attorneys General
Previously this week, by 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 produced by depository organizations. The balance is component regarding the efforts of House Republicans to deliver greater regulatory relief to banks than will be given 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the CFPB circulated its final payday/auto installment that is title/high-rate guideline on October 5, 2017, the OCC rescinded its gu …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
As you expected, the CFPB issued its proposed pay day loan guideline, in a launch operating 1,334 pages. The CFPB additionally issued reality sheet summarizing the proposition. On June 15, 2016, from 12 p.m. to 1 p.m. ET, we’re 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 general 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 which he asserted that Virginia is regarded as the “predatory lending capital 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 a step nearer to issuing cash advance guidelines by releasing a news release, factsheet and outline regarding the proposals it’s cons …
CFPB verifies plans for car 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 automobile lending. within the latest semi-annual change of their rulemaking agenda” The confirmation that is official 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 up March 25 loan field hearing that is payday
The CFPB has announced so it shall be keeping a field hearing on payday advances on March 25, 2014 in Nashville, Tennessee. The big event will feature remarks by Director Cordray and testimony from customer groups, industry users, together with average man or woman.
The CFPB’s rulemaking agenda given at the conclusion of final 12 months included “prerule tasks” …
OCC and FDIC continue on risk to kill deposit advance loans
We discovered much to criticize as soon as the CFPB issued its White Paper this April that is past on and deposit advance loans. Nevertheless, we stay hopeful that bad credit payday loans south carolina the CFPB is going to make good on its dedication that any rule-making on these things are going 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 pay day loan hearing
David Silberman, the CFPB’s Associate Director of Research, Markets and Regulations, made the CFPB’s April 2013 paper that is white 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-term Problem?”
Once we formerly reported …
Elizabeth Warren and Bill Nelson help OCC and FDIC on deposit improvements
A buddy taken 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 accountable for the creation of the CFPB, this might be a remarkable.