Category Archives: long term installment loans

Idea Exchange. Car Title Loans, Pay Day Loans, and Other Short-Term Loans: CFPB’s Proposed Regulatory Framework

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Extra Nelson Mullins Alerts

Customer Alert: Financial Services GroupOn March 26, 2015, the buyer Financial Protection Bureau (CFPB) floated proposals for comprehensive federal legislation of a number of short- and longer-term customer loans, including automobile name loans, pay day loans, deposit advance items, and particular high-cost installment and open-end loans. (We refer herein towards the assortment of proposals since the “Proposal” and also to the loans as “covered loans.”) A CFPB industry hearing in Richmond, Virginia, in the exact same time elicited some extremely initial general general general public responses. Continue reading

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