Public Statement Regarding Payday Rule Reconsideration and Delay of Compliance Date


On October 26, the Consumer Financial Protection Bureau (the “Bureau“) issued a statement announcing that it expects to issue proposed rules in January 2019 that will reconsider the Bureau’s rule regarding Payday, Vehicle Title, and Certain High-Cost Installment Loans and address the rule’s compliance date. The Bureau is currently planning to revisit only the ability-to-repay provisions and not the payments provisions. Release.