CFPB to Reconsider the Payday Lending Rule

On January 16, 2018, the Consumer Financial Protection Bureau (CFPB) issued a statement on the “Payday, Vehicle Title, and Certain High-Cost Installment Loans” (Payday Lending Rule).  The Payday Lending Rule was effective January 16, 2018, with most provisions not requiring compliance until August 19, 2019.  The CFPB announced that it intends to engage in a rulemaking process in order to reconsider the Payday Lending Rule.

  • 218-790-1086

John Zasada is a principal with CLA and leads the firm’s financial institution regulatory compliance practice. He assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, training staff on regulations, and performing website compliance assessments. In addition, John is a frequent speaker at industry conferences and state associations. Prior to joining CLA, he served as managing director at a top-10 accounting firm and as the compliance officer of a large financial institution, where he developed and implemented its first regulatory compliance program.

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