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6), with the announcement that the ConsumerFinancialProtectionBureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. Some parts of the rules, however, did remain intact. The Path To Revision. The Tumultuous Response.
The rule, which was supposed to go into effect in August, was meant to federally regulate short-term loans geared toward low-income customers. The ConsumerFinancialProtectionBureau (CFPB) said it will now postpone the rule until Nov.
The ConsumerFinancialProtectionBureau ( CFPB ) said earlier in the month that it will look to overhaul a number of payday loan regulations that were put in place in 2017 and were slated to go into effect in August of this year.
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