Consumer Finance Track: CFPB, Federal Agencies, State Agencies, and Attorneys General

17 septembre 2020

Consumer Finance Track: CFPB, Federal Agencies, State Agencies, and Attorneys General

Car Loans

Trump management Plans to End Military Lending Act Prohibition on Offering GAP Insurance to Service Members in Auto Loan Transactions

NPR reported week that is last the Trump management is about to end the existing prohibition underneath the Military Lending Act (“MLA”) against creditors providing solution people GAP insurance coverage relating to credit meant to fund the purchase of automobiles. Current interpretive guidance concerning the Department of Defense’s laws applying the MLA forbids creditors from …

New york adopts brand new demands for car or truck dealers

The brand new York City Department of Consumer Affairs (DCA) has used brand brand new guidelines for car or truck dealers, requiring all certified dealers to create extra disclosures to customers and developing a consumer that is new of liberties when it comes to industry. The brand new guidelines went into influence on June 24, 2018.

Underneath the rules that are new dealers must definitely provide …

Proposed bill would expand MLA disclosure significantly needs

We recently reported for a bill introduced into the House of Representatives by Congressman Dan Kildee (D-Michigan) that could amend the Military Lending Act (“MLA”) to require that creditors offer additional disclosures to covered people in the military and their own families. The writing of H.R. 2697 is currently available.

H2d the “Transparency in Military …

CFPB customer Advisory Board to meet up on 18 june

The CFPB has established that the summer time conference of their customer Advisory Board is planned for June 18, 2015 in Omaha, Nebraska. Director Cordray is slated to go to the conference.

The conference will give attention to styles and themes in customer economic areas and present proposals pertaining to pay day loans, auto h2 loans, along with other longer …

Report from SBREFA Panel on Payday, h2 and Installment Loans

Yesterday, I experienced the chance to engage as a consultant up to an entity that is small (“SER”) during the small company review panel on payday, h2 and installment loans. (Jeremy Rosenblum has four articles—here, here, right here and here—that evaluate online payday ND the guidelines being evaluated at length. ) The conference happened into the Treasury …

The CFPB’s contemplated payday/h2/high-cost financing proposals: our applying for grants collection training restrictions

Here is the final of a few blogs by which we share our responses into the CFPB’s contemplated proposals using aim at payday (along with other small-dollar, high-rate) loans (“Covered Loans”). In this web site post, we share our applying for grants the CFPB’s proposed restrictions on re re payment collection techniques. (Our past blogs have actually looked …

Some dilemmas for “longer-term” loans underneath the CFPB’s contemplated payday/h2/high-cost financing proposals

In this website post, we share our ideas on the 36% “all-in” price trigger and limitations for loans regarded as “longer-term” beneath the CFPB’s contemplated proposals using aim at payday (along with other small-dollar, high-rate) loans (“Covered Loans”). (Our previous blogs have actually looked over the CFPB’s grounds for the proposals, how a proposals will …

Some problems for “short-term” loans underneath the CFPB’s contemplated payday/h2/high-cost financing proposals

In this website post, we share our applying for grants how a CFPB’s contemplated proposals using aim at payday (along with other small-dollar, high-rate) loans (“Covered Loans”) will affect “short-term” Covered Loans while the flaws we come across within the CFPB’s capability to repay analysis. ( Our final article seemed at the CFPB’s grounds when it comes to proposals. )

The CFPB’s contemplated lending that is payday/h2/high-cost: our initial reactions

Final Friday, we posted a directory of the contemplated CFPB proposals using aim at payday (as well as other small-dollar, high-rate) loans (“Covered Loans”). In this web site post, we share our ideas on the CFPB’s grounds when it comes to proposals. Within the next couple of days, I will be posting a few blog that is additional to share with you our reactions to …

CFPB holds hearing on auto and payday h2 loans in Richmond, VA

The same day that it released proposed regulations for short-term small-dollar loans on March 26, the CFPB held a public hearing on payday and auto h2 lending. Virginia Attorney General, Mark Herring provided starting remarks, during that he asserted that Virginia is perceived as the lending that is“predatory regarding the East Coast, ” suggesting that payday …

facebook twitter google+ linkedin linkedin