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MoFo Reenforcement The Enforcement Blog

A Closer Look at the CFPB’s Proposed Short-Term Lending Rule

Posted in CFPB, Payday Lending, Regulatory Developments, UDAAP

As we previously reported in our June 3, 2016 client alert, the CFPB has issued a Notice of Proposed Rulemaking for short-term loans. In this follow-up alert, we take a closer look at the Proposed Rule and its implications for consumer lending generally. Although the Proposed Rule is often characterized as a “payday loan rule,” the rule is sweeping in terms of the products covered and the limitations it would impose.

Read our client alert.