The CFPB proposes to revise its final payday, auto title, and high-rate installment loan rule to rescind the “ability-to-repay (ATR) provisions” and to delay the compliance date until November 19, 2020.
This new compliance guide – you may read below – “Payday, Vehicle Title, and High-Cost Installment Lending Rule: Payment-Related Provisions” states that because the proposed rulemaking does not reconsider the rule’s payment-related requirements, the guide “highlights information that may be helpful when implementing [such payment-related requirements.]”
Here's a link to the CFPB's new PDF Guide: READ THE NEW CFPB GUIDE
NEED HELP? If you’re already in the “business of lending money to the masses,” or you need help and guidance from “the guys who wrote the book,” get our Course here: “How to Loan Money to the Masses Profitably.”] Additionally we offer both “on-site” and telephone consulting. More Info.
