It is not a question of “if,” but rather “when,” and, perhaps more important for the payday lending industry and its customers, “what,” as payday lenders brace for the Consumer Financial Protection Bureau (CFPB) to “make its move” in regulating more specifically the practices and products of the payday lending industry. While the payday loan industry will likely survive this encounter, the conditions, requirements, or constraints in store for the industry going forward will remain to be seen until the smoke clears on the CFPB’s proposed and final rulemaking in this area. ...

Related Practice

Consumer Financial Services