Texas Court Rules Against CFPB’s Payday Lending Act Delay

Texas Court Rules Against CFPB’s Payday Lending Act Delay

A Texas court ruled on(June 12) against delaying the compliance date for the Consumer Financial Protection Bureau’s rule on payday loans tuesday.

Case had aimed to block the brand new federal guidelines that would restrict these short-term loans that some critics state can force individuals into severe financial obligation.

The limitations are planned to simply take impact year that is next but loan providers — combined with the CFPB — sued to own that due date delayed even though the agency has a better glance at the laws. Continue reading

Share Button