Compliance: CPFB issues payday rule compliance guide

first_imgThe Consumer Financial Protection Bureau (CFPB) last week released a small entity compliance guide for its short-term, small-dollar loan rule, otherwise known as the “payday” rule. Though the bureau proposed updates to the rule earlier this month, that proposal does not address the payment-related requirements of the rule covered in this small entity compliance guide.According to the bureau, the guide highlights information that may be helpful when implementing the payment-related questions of the rule. However, the CFPB strongly emphasized that the guide is not a substitute for reviewing the rule itself.The rule applies to lender that make “covered loans,” which generally include: continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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