CFPB Issues Amendments to Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule

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Dear Panels of Directors and Ceos: The July 2020 amendment to your guideline rescinds the next: Need for a loan provider to determine a borrower’s ability to settle before generally making a loan that is covered Underwriting requirements in making the ability-to-repay determination; and Some recordkeeping and reporting requirements. The CFPB Payday Rule’s provisions relating… Read more »