ARTICLE
2 November 2018

CFPB To Issue New Payday Rule In 2019

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The Consumer Financial Protection Bureau ("CFPB") stated that it expects to issue proposed rules in January 2019 aimed at (i) amending the Payday, Vehicle Title, and Certain High-Cost Installment Loans rule and (ii) delaying the rule's compliance date.
United States Consumer Protection

The Consumer Financial Protection Bureau ("CFPB") stated that it expects to issue proposed rules in January 2019 aimed at (i) amending the Payday, Vehicle Title, and Certain High-Cost Installment Loans rule and (ii) delaying the rule's compliance date. The CFPB clarified that it is currently planning to revisit only the ability-to-repay provisions and not the payments provisions.

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