2020 Amendments to the Payday Lending Rule
This document summarizes CFPB's 2020 Final Rule amending the Payday, Vehicle Title, and Certain High-Cost Installment Loans (“payday loans”). The Final Rule revokes the mandatory underwriting provisions of the 2017 Final Rule as well as related reporting, recordkeeping, and compliance date requirements.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily/ weekly across forms, across checklists, across trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 29 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.