Stepping Back? CFPB Reconsiders Protecting Cash Advance Borrowers

Stepping Back? CFPB Reconsiders Protecting Cash Advance Borrowers

The Consumer Financial Protection Bureau (CFPB) may be taking steps to undo them after several years of working to pull together borrower-friendly rules for the payday lending industry. The agency has not yet started the official “undoing” process, but Mick Mulvaney, the acting director, announced in a Jan. 16 statement, “the Bureau intends to take part in a rule-making procedure so the bureau may reconsider the Payday Rule.” It really is one of the notices showing a change in way for the bureau since Mulvaney took the lead in November whenever previous manager Richard Cordray stepped down https://personalbadcreditloans.net/reviews/cash-america-loans-review/. Continue reading “Stepping Back? CFPB Reconsiders Protecting Cash Advance Borrowers”