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CFPB Issues Final Rules on Payday and Vehicle Title Loans—minimal Impact for Auto Lenders

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CFPB Issues Final Rules on Payday and Vehicle Title Loans—minimal Impact for Auto Lenders

The buyer Economic Protection Bureau (CFPB) issued its last guideline on payday, automobile title, and high-cost that is certain loans. The rule that is new effective in 2019 and imposes strict underwriting demands and re re payment limitations on certain covered loans. Make sure to review our blog that is previous post Releases Long Awaited Small Dollar Rule: 5 Things you must know” for additional information. Happily, unlike the CFPB’s original proposals, the rule that is final to possess not a lot of applicability to many vehicle loan providers. Read More