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Payday loan providers get unforeseen reprieve from CFPB guideline

A federal judge delivered another success to payday loan providers by making in destination a stick to the conformity date for the customer Financial Protection Bureau’s 2017 payday lending guideline.

That guideline, drafted under previous CFPB Director Richard Cordray, had two key elements: brand brand new underwriting demands for high-cost, small-dollar loan providers, and limitations on what ordinarily a loan provider can attempt debiting re payments from the debtor’s banking account. Читати далі…