The buyer Financial Protection Bureau stated that it will propose changes in January to the underwriting provisions of the agency’s rules for payday lenders as well as to when those rules take effect friday.
Present acting Director Mick Mulvaney is pursuing two objectives: water along the ability-to-pay that is forthcoming for payday loan providers, and expand the conformity date to offer the agency and industry plenty of time to include the changes. Continue reading “Year let me tell you about CFPB makes it official: Changes to payday rule coming in new”