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CFPB Problems Final Rules on Payday and Vehicle Title Loans

The buyer Financial Protection Bureau (CFPB) issued its last guideline on payday, car name, and high-cost that is certain loans. The rule that is new effective and imposes strict underwriting needs and re payment limitations on particular covered loans. Make sure to review our past post “CFPB Releases Long Awaited Small Dollar Rule: 5 Things you should know” for additional information. Luckily, unlike the CFPB’s initial proposals, the rule that is final to own not a lot of applicability to many vehicle loan providers.

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