CFPB Delays Effective Date of Underwriting Section of Payday Rule for 15 Months

According to the agency, the delay was needed as the bureau decides whether to rescind those underwriting rules.

By David Baumann | June 07, 2019 at 09:17 AM

The CFPB has decided to delay the effective date for the underwriting provisions of its payday lending rule for an additional 15 months, now setting a Nov. 19, 2020 compliance date.

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