Payday lending

A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.

]]

If he’s confirmed as director of the Consumer Financial Protection Bureau, Rohit Chopra is expected to move quickly to undo Trump policies and address the pandemic’s impact on consumers. Some experts say he may even get the job on an interim basis before Congress acts.

The agency's "no-action" letter is intended to provide more regulatory certainty for the bank after it announced a short-term credit product available to checking account customers next year.

The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.