New CFPB Rule Targets Lenders of Pay-Day Loans, Auto Title Loans, and Other High-Cost Loans
Saalfeld Griggs Litigation, Creditors’ Rights & Bankruptcy Practice Groups Oregon Business Lawyers Today the Consumer Financial Protection Bureau (“CFPB”) proposed rules targeting the pay-day, auto title and deposit advance products in the lending industry. Under the proposed rule, lenders would be required to ensure a consumer has the ability-to-repay (“ATR”) the loan prior to …