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Home > vehicle Finance > CFPB Issues Final Rules on Payday and car Title Loans—minimal Impact for Auto Lenders

The customer Financial Protection Bureau (CFPB) issued its last guideline on payday, car name, and specific high-cost installment loans. The brand new rule is effective in 2019 and imposes strict underwriting needs and re re payment limitations on particular covered loans. Make sure to review our blog that is previous post Releases Long Awaited Small Dollar Rule: 5 Things you should know” for additional information. Luckily, unlike the CFPB’s initial proposals, the last guideline appears to possess not a lot of applicability to many vehicle loan providers. (more…)