CFPB, Federal Agencies, State Agencies, and Attorneys General
Earlier in the day 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 bill is a component for the efforts of House Republicans to give you greater regulatory relief to banks than could be supplied by S.
OCC responds to CFPBвЂ™s last pay day loan 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the CFPB circulated its final payday/auto title/high-rate installment loan guideline on October 5, 2017, the OCC rescinded its gu вЂ¦
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 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 in the proposition: The CFPBвЂ™s Proposed Payday/Auto Title/High-Rate Installment Loan Rule: Can вЂ¦
On March 26, the CFPB held a hearing that is public payday and automobile title lending, exactly the same time so it circulated proposed laws for short-term small-dollar loans. Virginia Attorney General, Mark Herring offered starting remarks, during that he asserted that Virginia is regarded as the вЂњpredatory lending capital regarding the East Coast,вЂќ suggesting that payday вЂ¦
CFPB shows its hand on payday (and name and longer-term high-rate) lending
The CFPB has relocated a action nearer to issuing pay day loan guidelines by releasing a pr release, factsheet and outline associated with the proposals it really is cons вЂ¦
CFPB verifies plans for automobile finance bigger participant rule in rulemaking agenda
When you look at the latest semi-annual change of their rulemaking agenda, the CFPB formally confirmed it intends to propose a guideline to define вЂњlarger individuals of an industry for auto lending.вЂќ The formal verification follows statements created by Steven Antonakes at a Consumer Bankers Association meeting in April 2014 that the CFPBвЂ™s next bigger participant rule вЂ¦
CFPB to carry March 25 pay day loan field hearing
The CFPB has announced that it shall 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 people, and also the public that is general.
The CFPBвЂ™s rulemaking agenda released at the conclusion of final 12 months included вЂњprerule tasksвЂќ вЂ¦
OCC and FDIC continue on hazard 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. https://paydayloanstexas.net Nonetheless, we stay hopeful that the CFPB can certainly make good on its dedication that any rule-making on these things is likely to be evidence-based.
Unfortuitously, the OCC and FDIC never have taken that approach. Alternatively, the вЂ¦
CFPB reports deposit and payday advance loan findings at Senate cash advance hearing
David Silberman, the CFPBвЂ™s Associate Director of Research, Markets and Regulations, made the CFPBвЂ™s April 2013 white paper on payday and deposit advance loans the main focus of their testimony during the hearing held on July 24 because of the SenateвЂ™s Special Committee on Aging entitled вЂњPayday Loans: Short-term Solution or long-lasting Problem?вЂќ
Once we formerly reported вЂ¦
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 OCCвЂ™s proposed deposit advance guidance, the main topic of a blog that is prior. This is a remarkable for a letter co-authored by the single person most responsible for the creation of the CFPB.