CFPB Adds “Ability to Pay†Requirement to payday advances
CFPB Adds “Ability to Pay†Requirement to payday advances On October 5, 2017 the customer Financial Protection Bureau (CFPB) unveiled its final rule regulating payday lending. The CFPB had been doing research and seeking comments from the industry on how to address its concerns with what it calls “lending traps†associated with small-dollar lending for …
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