Assaults on Payday Lending: Ballot Initiatives, Legislation, and Attorney General Enforcement

Assaults on Payday Lending: Ballot Initiatives, Legislation, and Attorney General Enforcement

On October 26, 2018, the Bureau of customer Financial Protection issued a general public statement announcing it intends to issue proposed guidelines in January 2019 reconsidering its Payday, car Title, and Certain High-Cost Installment Loans rulemaking. A shift is suggested by this reconsideration within the Bureau’s mindset towards short-term financing, and loan providers may be much more hopeful about the industry. But care continues to be wise, as current state task shows that the battle against payday financing is far from over, with states using aim at the industry through ballot initiatives, legislation, and lawyer basic actions. Continue reading “Assaults on Payday Lending: Ballot Initiatives, Legislation, and Attorney General Enforcement”