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The CFPB expects to issue its proposed rules governing payday, auto title and similar loan products within the next several weeks, the agency said in its revised regulatory agenda.

The proposed rules will cover such areas as the failure by lenders to determine whether consumers have the ability to repay without defaulting or taking out an additional loan, the agency said. In addition, the proposed rules will cover certain payment collection practices.

David Baumann

 

Credit Union Times

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