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Posted by on Nov 24, 2020 in | 0 comments

Studies question value of anticipated CFPB cash advance limits

The CFPB’s payday loan rulemaking had been the topic of a NY circumstances article the 2009 Sunday that review has gotten attention that is considerable. In accordance with the article, the CFPB will “soon release” its proposition which can be likely to add an ability-to-repay requirement and limitations on rollovers.

Two present studies cast severe question on the explanation typically provided by customer advocates for an ability-to-repay requirement and rollover limitations—namely, that sustained usage of payday advances adversely impacts borrowers and borrowers are harmed if they are not able to repay

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